Exxonmobil Investment Management Inc. TX Cuts Stake in Automatic Data Processing (NASDAQ:ADP)

Exxonmobil Investment Management Inc. TX decreased its position in shares of Automatic Data Processing (NASDAQ:ADP) by 13.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,517 shares of the business services provider’s stock after selling 10,632 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in Automatic Data Processing were worth $8,264,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. Pershing Square Capital Management L.P. increased its position in Automatic Data Processing by 402.5% in the 3rd quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after buying an additional 7,047,575 shares in the last quarter. Janus Henderson Group PLC increased its holdings in Automatic Data Processing by 5,962.5% during the 2nd quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock worth $411,260,000 after purchasing an additional 3,947,657 shares in the last quarter. Canada Pension Plan Investment Board increased its holdings in Automatic Data Processing by 42,776.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock worth $150,509,000 after purchasing an additional 1,373,560 shares in the last quarter. Fundsmith LLP increased its holdings in Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after purchasing an additional 1,164,972 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Automatic Data Processing by 671.9% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,245,110 shares of the business services provider’s stock worth $127,574,000 after purchasing an additional 1,083,799 shares in the last quarter. 78.68% of the stock is currently owned by hedge funds and other institutional investors.

ADP has been the topic of a number of research analyst reports. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Thursday, September 28th. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Monday, October 2nd. Stifel Nicolaus reissued a “hold” rating and set a $108.00 target price on shares of Automatic Data Processing in a report on Wednesday, October 4th. Bank of America upped their price target on shares of Automatic Data Processing from $111.00 to $114.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and five have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $115.21.

Automatic Data Processing (NASDAQ:ADP) opened at $119.39 on Wednesday. The firm has a market cap of $52,540.22, a P/E ratio of 30.38, a price-to-earnings-growth ratio of 2.93 and a beta of 0.85. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a one year low of $94.11 and a one year high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. The firm’s quarterly revenue was up 5.6% on a year-over-year basis. During the same quarter last year, the company posted $0.86 earnings per share. equities research analysts expect that Automatic Data Processing will post 3.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.12%.

In related news, insider Edward B. Flynn III sold 7,886 shares of the company’s stock in a transaction dated Tuesday, January 9th. The shares were sold at an average price of $117.74, for a total transaction of $928,497.64. Following the transaction, the insider now directly owns 40,522 shares in the company, valued at approximately $4,771,060.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s 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 transaction, the chief executive officer now owns 124,722 shares in the company, valued at $14,728,420.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 115,505 shares of company stock worth $13,612,788. 0.25% of the stock is owned by corporate insiders.

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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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