Teacher Retirement System of Texas trimmed its holdings in Automatic Data Processing (NASDAQ:ADP) by 43.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,057 shares of the business services provider’s stock after selling 48,380 shares during the period. Teacher Retirement System of Texas’ holdings in Automatic Data Processing were worth $8,137,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cerebellum GP LLC grew its stake in shares of Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after purchasing an additional 179 shares during the last quarter. Tributary Capital Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $26,000. AlphaMark Advisors LLC grew its stake in shares of Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after purchasing an additional 150 shares during the last quarter. Lake Point Wealth Management bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $26,000. Finally, Horan Securities Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at $31,000. Institutional investors own 80.48% of the company’s stock.
In other Automatic Data Processing news, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.01, for a total value of $281,507.06. Following the completion of the sale, the vice president now directly owns 26,220 shares of the company’s stock, valued at approximately $4,326,562.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Jan Siegmund sold 36,403 shares of the company’s stock in a transaction dated Tuesday, February 5th. The stock was sold at an average price of $145.02, for a total transaction of $5,279,163.06. Following the completion of the sale, the insider now directly owns 86,726 shares of the company’s stock, valued at $12,577,004.52. The disclosure for this sale can be found here. Insiders sold a total of 112,578 shares of company stock worth $17,078,216 in the last 90 days. 0.33% of the stock is currently owned by company insiders.
Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.18 by $0.16. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The company had revenue of $3.51 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business posted $1.03 EPS. The firm’s revenue was up 8.3% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing will post 5.37 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $0.79 dividend. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is presently 72.64%.
ADP has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Wednesday, January 16th. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $153.43.
About Automatic Data Processing
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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