Automatic Data Processing (ADP) Shares Bought by Valeo Financial Advisors LLC
Valeo Financial Advisors LLC increased its stake in Automatic Data Processing (NASDAQ:ADP) by 103.9% during the 4th quarter, Holdings Channel reports. The firm owned 2,830 shares of the business services provider’s stock after purchasing an additional 1,442 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Automatic Data Processing were worth $332,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of ADP. Acrospire Investment Management LLC bought a new position in Automatic Data Processing during the second quarter valued at approximately $102,000. Legacy Advisors LLC bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $103,000. Wealthcare Advisory Partners LLC bought a new position in Automatic Data Processing during the third quarter valued at approximately $114,000. Calton & Associates Inc. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $118,000. Finally, Cerebellum GP LLC bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $129,000. Institutional investors own 78.84% of the company’s stock.
In related news, VP Donald Weinstein sold 3,242 shares of the firm’s stock in a transaction on Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total value of $405,250.00. Following the completion of the sale, the vice president now owns 28,366 shares of the company’s stock, valued at $3,545,750. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the firm’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the sale, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. Insiders sold 219,666 shares of company stock valued at $25,650,681 in the last ninety days. 0.25% of the stock is currently owned by insiders.
Shares of Automatic Data Processing (NASDAQ ADP) opened at $115.41 on Wednesday. The firm has a market capitalization of $51,499.07, a P/E ratio of 29.98, a PEG ratio of 2.53 and a beta of 0.86. Automatic Data Processing has a 52 week low of $95.50 and a 52 week high of $125.24. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping 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 company had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The firm’s revenue was up 8.3% on a year-over-year basis. sell-side analysts forecast that Automatic Data Processing will post 4.17 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a yield of 2.18%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s payout ratio is 65.45%.
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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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