M&T Bank Corp lessened its holdings in Automatic Data Processing (NASDAQ:ADP) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 516,909 shares of the business services provider’s stock after selling 6,891 shares during the quarter. M&T Bank Corp’s holdings in Automatic Data Processing were worth $60,576,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Cedar Capital LLC bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $254,000. Intl Fcstone Inc. bought a new position in shares of Automatic Data Processing in the 2nd quarter valued at $1,699,000. AMP Capital Investors Ltd lifted its stake in shares of Automatic Data Processing by 20.0% in the 3rd quarter. AMP Capital Investors Ltd now owns 307,676 shares of the business services provider’s stock valued at $33,636,000 after acquiring an additional 51,252 shares during the last quarter. AHL Partners LLP lifted its stake in shares of Automatic Data Processing by 37.3% in the 2nd quarter. AHL Partners LLP now owns 109,735 shares of the business services provider’s stock valued at $11,243,000 after acquiring an additional 29,836 shares during the last quarter. Finally, Fundsmith LLP lifted its stake in shares of Automatic Data Processing by 29.0% in the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock valued at $530,368,000 after acquiring an additional 1,164,972 shares during the last quarter. 78.55% of the stock is currently owned by hedge funds and other institutional investors.

In other news, Director John P. Jones III sold 5,688 shares of Automatic Data Processing stock in a transaction dated 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 is accessible through this hyperlink. Also, insider Michael A. Bonarti sold 3,900 shares of Automatic Data Processing stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have 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 (ADP) opened at $111.43 on Monday. The stock has a market capitalization of $49,393.54, a price-to-earnings ratio of 28.87, a P/E/G ratio of 2.43 and a beta of 0.86. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a 12-month low of $95.50 and a 12-month high of $125.24.

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, topping the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. Automatic Data Processing’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $0.87 EPS. equities research analysts anticipate that Automatic Data Processing will post 4.17 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is currently 65.45%.

ADP has been the subject of a number of research reports. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target for the company in a research note on Monday, October 16th. BidaskClub upgraded Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research note on Saturday, October 21st. Barclays increased their price target on Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. 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 research note on Tuesday, October 31st. Finally, BMO Capital Markets dropped their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Eleven equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $118.43.

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

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