Automatic Data Processing (ADP) Stake Lowered by Atlantic Trust Group LLC
Atlantic Trust Group LLC lessened its position in Automatic Data Processing (NASDAQ:ADP) by 11.8% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 1,724,547 shares of the business services provider’s stock after selling 231,372 shares during the period. Automatic Data Processing makes up 0.9% of Atlantic Trust Group LLC’s investment portfolio, making the stock its 27th largest holding. Atlantic Trust Group LLC owned 0.39% of Automatic Data Processing worth $188,529,000 at the end of the most recent quarter.
Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 2.4% in the 2nd quarter. Vanguard Group Inc. now owns 34,999,981 shares of the business services provider’s stock valued at $3,586,099,000 after purchasing an additional 811,960 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Automatic Data Processing by 0.8% in the 2nd quarter. BlackRock Inc. now owns 29,869,208 shares of the business services provider’s stock valued at $3,060,398,000 after purchasing an additional 237,439 shares in the last quarter. Pershing Square Capital Management L.P. increased its holdings in shares of Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after purchasing an additional 7,047,575 shares in the last quarter. Polen Capital Management LLC increased its holdings in shares of Automatic Data Processing by 2.3% in the 3rd quarter. Polen Capital Management LLC now owns 6,813,929 shares of the business services provider’s stock valued at $744,899,000 after purchasing an additional 152,027 shares in the last quarter. Finally, Wells Fargo & Company MN increased its holdings in shares of Automatic Data Processing by 2.9% in the 2nd quarter. Wells Fargo & Company MN now owns 6,794,660 shares of the business services provider’s stock valued at $696,182,000 after purchasing an additional 190,717 shares in the last quarter. Institutional investors own 78.67% of the company’s stock.
In other Automatic Data Processing news, Director John P. Jones III sold 5,688 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $659,978.64. Following the sale, the director now directly owns 53,956 shares of the company’s stock, valued at approximately $6,260,514.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction dated Thursday, January 4th. The stock was sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the sale, the chief executive officer now directly owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. Insiders have sold a total of 107,619 shares of company stock valued at $12,684,290 over the last 90 days. 0.25% of the stock is currently owned by insiders.
Automatic Data Processing (ADP) opened at $118.30 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77. The firm has a market cap of $52,430.00, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm had revenue of $3.08 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period last year, the firm posted $0.86 EPS. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. equities research analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, January 1st. Shareholders of record on Friday, December 8th were issued a dividend of $0.63 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a yield of 2.13%. The ex-dividend date was Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 63.96%.
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About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.
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