Sowell Financial Services LLC Has $231,000 Position in Automatic Data Processing (NASDAQ:ADP)

Sowell Financial Services LLC increased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 11.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,763 shares of the business services provider’s stock after purchasing an additional 175 shares during the period. Sowell Financial Services LLC’s holdings in Automatic Data Processing were worth $231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC grew its position in Automatic Data Processing by 1,376.9% during the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after purchasing an additional 179 shares in the last quarter. Lake Point Wealth Management purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at $26,000. AlphaMark Advisors LLC grew its holdings in shares of Automatic Data Processing by 319.1% during the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock valued at $26,000 after acquiring an additional 150 shares in the last quarter. Tributary Capital Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at $26,000. Finally, Horan Securities Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at $31,000. 80.50% of the stock is currently owned by institutional investors.

NASDAQ ADP opened at $163.70 on Friday. The stock has a market capitalization of $71.31 billion, a P/E ratio of 37.63, a price-to-earnings-growth ratio of 2.36 and a beta of 0.96. Automatic Data Processing has a twelve month low of $112.58 and a twelve month high of $165.50. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.42.

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, beating 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 business had revenue of $3.51 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the firm posted $1.03 earnings per share. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. As a group, research analysts anticipate that Automatic Data Processing will post 5.37 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $0.79 per share. The ex-dividend date is Thursday, June 13th. This represents a $3.16 annualized dividend and a yield of 1.93%. Automatic Data Processing’s payout ratio is currently 72.64%.

Several equities research analysts recently issued reports on ADP shares. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Thursday, January 24th. 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 a consensus price target of $153.43.

In related news, VP Maria Black sold 1,614 shares of Automatic Data Processing stock in a transaction on Friday, February 8th. The shares were sold at an average price of $146.61, for a total value of $236,628.54. Following the sale, the vice president now owns 17,691 shares in the company, valued at $2,593,677.51. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Douglas W. Politi sold 6,035 shares of the firm’s stock in a transaction on Tuesday, February 5th. The shares were sold at an average price of $145.01, for a total value of $875,135.35. Following the transaction, the vice president now directly owns 28,829 shares of the company’s stock, valued at approximately $4,180,493.29. The disclosure for this sale can be found here. Insiders have sold 112,578 shares of company stock valued at $17,078,216 in the last quarter. Company insiders own 0.33% of the company’s stock.

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Automatic Data Processing Company Profile

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.

Further Reading: Convertible Shares

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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