Automatic Data Processing (ADP) Position Boosted by Acima Private Wealth LLC

Acima Private Wealth LLC boosted its stake in Automatic Data Processing (NASDAQ:ADP) by 7.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 3,763 shares of the business services provider’s stock after acquiring an additional 275 shares during the quarter. Acima Private Wealth LLC’s holdings in Automatic Data Processing were worth $601,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Vanguard Group Inc lifted its holdings in Automatic Data Processing by 1.2% in the 3rd quarter. Vanguard Group Inc now owns 36,946,069 shares of the business services provider’s stock valued at $5,566,295,000 after acquiring an additional 425,007 shares during the last quarter. BlackRock Inc. lifted its holdings in Automatic Data Processing by 5.4% in the 4th quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock valued at $4,064,239,000 after acquiring an additional 1,587,214 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Automatic Data Processing by 18,918.6% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 23,339,116 shares during the last quarter. Lunia Capital LP lifted its holdings in Automatic Data Processing by 14,251.9% in the 4th quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after acquiring an additional 18,239,702 shares during the last quarter. Finally, Polen Capital Management LLC lifted its holdings in Automatic Data Processing by 3.2% in the 4th quarter. Polen Capital Management LLC now owns 7,376,430 shares of the business services provider’s stock valued at $967,198,000 after acquiring an additional 226,969 shares during the last quarter. Hedge funds and other institutional investors own 81.20% of the company’s stock.

ADP stock opened at $163.00 on Wednesday. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38. Automatic Data Processing has a one year low of $121.40 and a one year high of $165.50. The stock has a market cap of $69.94 billion, a price-to-earnings ratio of 37.47, a PEG ratio of 2.29 and a beta of 0.95.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.69 by $0.08. Automatic Data Processing had a net margin of 13.76% and a return on equity of 50.53%. The company had revenue of $3.85 billion during the quarter, compared to analyst estimates of $3.91 billion. During the same period in the prior year, the firm earned $1.57 earnings per share. The business’s quarterly revenue was up 4.2% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing will post 5.44 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 72.64%.

A number of equities research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, May 15th. BidaskClub raised shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Friday, May 10th. Citigroup upped their price target on shares of Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Barclays upped their price target on shares of Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Finally, Sanford C. Bernstein downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Tuesday, April 30th. Nine investment analysts have rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $159.00.

In other news, insider Jan Siegmund sold 27,272 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the sale, the insider now directly owns 77,595 shares of the company’s stock, valued at $12,803,175. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Donald Weinstein sold 1,706 shares of the stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total transaction 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 $4,326,562.20. The disclosure for this sale can be found here. Insiders have sold 30,456 shares of company stock valued at $5,010,669 over the last ninety days. 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: Roth IRA

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

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