Fruth Investment Management cut its position in shares of Automatic Data Processing (NASDAQ:ADP) by 3.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 29,674 shares of the business services provider’s stock after selling 1,050 shares during the quarter. Automatic Data Processing accounts for 2.0% of Fruth Investment Management’s investment portfolio, making the stock its 6th biggest holding. Fruth Investment Management’s holdings in Automatic Data Processing were worth $4,740,000 at the end of the most recent quarter.
Other hedge funds have also recently modified their holdings of the company. Spectrum Management Group Inc. increased its position in Automatic Data Processing by 2.9% during the first quarter. Spectrum Management Group Inc. now owns 20,295 shares of the business services provider’s stock worth $3,242,000 after buying an additional 565 shares in the last quarter. Pennsylvania Trust Co increased its position in Automatic Data Processing by 48.7% during the first quarter. Pennsylvania Trust Co now owns 230,852 shares of the business services provider’s stock worth $17,865,000 after buying an additional 75,651 shares in the last quarter. Northstar Group Inc. increased its position in Automatic Data Processing by 1.0% during the first quarter. Northstar Group Inc. now owns 16,656 shares of the business services provider’s stock worth $2,661,000 after buying an additional 158 shares in the last quarter. Palisade Asset Management LLC increased its position in Automatic Data Processing by 2.2% during the first quarter. Palisade Asset Management LLC now owns 28,048 shares of the business services provider’s stock worth $4,480,000 after buying an additional 592 shares in the last quarter. Finally, Welch Group LLC increased its position in Automatic Data Processing by 6.9% during the first quarter. Welch Group LLC now owns 1,863 shares of the business services provider’s stock worth $298,000 after buying an additional 121 shares in the last quarter. 80.48% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Carlos A. Rodriguez sold 36,364 shares of Automatic Data Processing stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $149.05, for a total value of $5,420,054.20. Following the transaction, the chief executive officer now owns 148,842 shares in the company, valued at $22,184,900.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of Automatic Data Processing stock in a transaction on Friday, March 15th. The shares were sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the transaction, the vice president now owns 24,122 shares in the company, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. In the last ninety days, insiders sold 86,721 shares of company stock valued at $12,714,980. Company insiders own 0.33% of the company’s stock.
Several equities analysts have weighed in on ADP shares. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $148.00 price target for the company in a research report on Wednesday, December 19th. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $153.43.
Shares of NASDAQ:ADP opened at $162.14 on Wednesday. The firm has a market capitalization of $71.30 billion, a PE ratio of 37.27, a price-to-earnings-growth ratio of 2.34 and a beta of 0.96. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.42. Automatic Data Processing has a 52 week low of $112.58 and a 52 week high of $164.41.
Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 EPS for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.16. The business had revenue of $3.51 billion during the quarter, compared to the consensus estimate of $3.43 billion. Automatic Data Processing had a return on equity of 51.92% and a net margin of 13.12%. The business’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.03 earnings per share. On average, research analysts anticipate that Automatic Data Processing will post 5.37 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.
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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.
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