Automatic Data Processing (ADP) Shares Bought by Amalgamated Bank
Amalgamated Bank lifted its position in shares of Automatic Data Processing (NASDAQ:ADP) by 2.1% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 53,932 shares of the business services provider’s stock after buying an additional 1,113 shares during the period. Amalgamated Bank’s holdings in Automatic Data Processing were worth $5,896,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in ADP. Proficio Capital Partners LLC increased its holdings in Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares in the last quarter. Acrospire Investment Management LLC acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $102,000. Grove Bank & Trust increased its holdings in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock valued at $124,000 after purchasing an additional 170 shares in the last quarter. Family Capital Trust Co acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $137,000. Finally, San Francisco Sentry Investment Group CA acquired a new stake in Automatic Data Processing in the 2nd quarter valued at $136,000. Institutional investors and hedge funds own 78.62% of the company’s stock.
Automatic Data Processing (NASDAQ ADP) opened at $116.88 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. The firm has a market cap of $51,840.00, a PE ratio of 29.66, a price-to-earnings-growth ratio of 2.91 and a beta of 0.86. Automatic Data Processing has a 12-month low of $94.11 and a 12-month high of $121.77.
Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating analysts’ consensus estimates of $0.85 by $0.06. The company had revenue of $3.08 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s revenue for the quarter was up 5.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.86 EPS. equities research analysts predict that Automatic Data Processing will post 3.91 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Shareholders of record on Friday, December 8th will be given a $0.63 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is presently 63.96%.
Several brokerages recently issued reports on ADP. Zacks Investment Research downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Royal Bank of Canada reiterated a “hold” rating and issued a $95.00 price target on shares of Automatic Data Processing in a report on Friday, September 15th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Saturday, September 9th. Sanford C. Bernstein increased their price target on Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a report on Tuesday, October 31st. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $108.00 price target on shares of Automatic Data Processing in a report on Wednesday, October 4th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $114.14.
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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