Automatic Data Processing (NASDAQ:ADP) Position Raised by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC raised its position in Automatic Data Processing (NASDAQ:ADP) by 295.9% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 6,643 shares of the business services provider’s stock after acquiring an additional 4,965 shares during the period. Tower Research Capital LLC TRC’s holdings in Automatic Data Processing were worth $778,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Acrospire Investment Management LLC acquired a new stake in shares of Automatic Data Processing in the second quarter valued at about $102,000. Legacy Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $103,000. Wealthcare Advisory Partners LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at about $114,000. Calton & Associates Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $118,000. Finally, Cerebellum GP LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $129,000. Institutional investors own 78.57% of the company’s stock.

ADP has been the subject of several recent analyst reports. Citigroup reiterated a “neutral” rating and issued a $118.00 price objective (up previously from $110.00) on shares of Automatic Data Processing in a research note on Friday, January 12th. BMO Capital Markets reduced their price objective on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a research note on Thursday, February 1st. BidaskClub cut shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Zacks Investment Research cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Finally, Stifel Nicolaus raised their price objective on shares of Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and an average price target of $118.43.

In other news, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $118.09, for a total transaction of $11,307,826.04. Following the completion of the sale, the chief executive officer now directly owns 124,722 shares in the company, valued at $14,728,420.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 69,899 shares of Automatic Data Processing stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the sale, the chief executive officer now owns 161,085 shares of the company’s stock, valued at $18,088,234.65. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 219,666 shares of company stock valued at $25,650,681. Insiders own 0.25% of the company’s stock.

Shares of Automatic Data Processing (NASDAQ ADP) traded down $1.29 on Wednesday, reaching $116.10. 1,885,041 shares of the company’s stock were exchanged, compared to its average volume of 1,960,000. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market capitalization of $51,460.00, a PE ratio of 30.88, a P/E/G ratio of 2.58 and a beta of 0.90. Automatic Data Processing has a one year low of $95.50 and a one year 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 analysts’ consensus estimates of $0.89 by $0.10. The company had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.87 earnings per share. research analysts predict that Automatic Data Processing will post 4.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be issued a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 67.02%.

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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.

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

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