Quantitative Systematic Strategies LLC Acquires New Holdings in Automatic Data Processing (ADP)
Quantitative Systematic Strategies LLC acquired a new stake in shares of Automatic Data Processing (NASDAQ:ADP) during the 4th quarter, HoldingsChannel reports. The institutional investor acquired 8,530 shares of the business services provider’s stock, valued at approximately $1,000,000.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Cedar Capital LLC purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $254,000. Intl Fcstone Inc. purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $1,699,000. AMP Capital Investors Ltd boosted its position in Automatic Data Processing by 20.0% in the third quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after buying an additional 51,252 shares during the last quarter. AHL Partners LLP boosted its position in Automatic Data Processing by 37.3% in the second quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after buying an additional 29,836 shares during the last quarter. Finally, Fundsmith LLP boosted its position in Automatic Data Processing by 29.0% in the second quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after buying an additional 1,164,972 shares during the last quarter. Hedge funds and other institutional investors own 78.80% of the company’s stock.
In related news, Director John P. Jones III sold 5,688 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $659,978.64. Following the completion of the transaction, 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 SEC, which can be accessed through the SEC website. Also, VP Donald Weinstein sold 2,275 shares of the stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total value of $263,968.25. Following the completion of the transaction, the vice president now directly owns 27,399 shares of the company’s stock, valued at $3,179,105.97. The disclosure for this sale can be found here. Over the last three months, insiders sold 149,767 shares of company stock valued at $17,801,722. 0.25% of the stock is owned by corporate insiders.
Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $0.87 EPS. The business’s revenue was up 8.3% on a year-over-year basis. analysts expect that Automatic Data Processing will post 4.1 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be given a dividend of $0.63 per share. The ex-dividend date of this dividend is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.13%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.45%.
Several research firms have commented on ADP. BidaskClub lowered Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research report on Friday, January 5th. Morgan Stanley restated an “equal weight” rating on shares of Automatic Data Processing in a research report on Wednesday, November 15th. Royal Bank of Canada lowered their price objective on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research report on Monday, November 6th. Finally, Bank of America upped their price objective on Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Twelve analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $118.64.
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Automatic Data Processing Profile
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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