Beaumont Financial Partners LLC Boosts Position in Automatic Data Processing (NASDAQ:ADP)

Beaumont Financial Partners LLC boosted its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.7% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,995 shares of the business services provider’s stock after buying an additional 65 shares during the quarter. Beaumont Financial Partners LLC’s holdings in Automatic Data Processing were worth $681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. CIBC Asset Management Inc increased its holdings in shares of Automatic Data Processing by 2.3% during the 3rd quarter. CIBC Asset Management Inc now owns 74,471 shares of the business services provider’s stock valued at $12,021,000 after purchasing an additional 1,684 shares in the last quarter. Squarepoint Ops LLC increased its holdings in shares of Automatic Data Processing by 38.8% during the 3rd quarter. Squarepoint Ops LLC now owns 105,650 shares of the business services provider’s stock valued at $17,054,000 after purchasing an additional 29,532 shares in the last quarter. Advisors Capital Management LLC increased its holdings in shares of Automatic Data Processing by 215.6% during the 4th quarter. Advisors Capital Management LLC now owns 10,958 shares of the business services provider’s stock valued at $1,868,000 after purchasing an additional 7,486 shares in the last quarter. Eastern Bank increased its holdings in shares of Automatic Data Processing by 4.9% during the 4th quarter. Eastern Bank now owns 23,770 shares of the business services provider’s stock valued at $4,053,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Windsor Group LTD increased its holdings in shares of Automatic Data Processing by 30.0% during the 4th quarter. Windsor Group LTD now owns 2,267 shares of the business services provider’s stock valued at $386,000 after purchasing an additional 523 shares in the last quarter. 80.12% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 3,250 shares of Automatic Data Processing stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $176.67, for a total transaction of $574,177.50. Following the sale, the vice president now owns 18,304 shares of the company’s stock, valued at approximately $3,233,767.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Donald Weinstein sold 2,000 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total transaction of $340,160.00. Following the sale, the vice president now directly owns 25,710 shares in the company, valued at approximately $4,372,756.80. The disclosure for this sale can be found here. In the last three months, insiders sold 14,528 shares of company stock valued at $2,556,051. 0.31% of the stock is owned by insiders.

Shares of NASDAQ ADP opened at $180.11 on Friday. The firm has a market cap of $77.44 billion, a PE ratio of 31.82, a PEG ratio of 2.24 and a beta of 0.87. The firm has a fifty day moving average of $173.88 and a 200 day moving average of $167.61. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.02 and a current ratio of 1.02. Automatic Data Processing has a one year low of $148.07 and a one year high of $180.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.44 by $0.08. The company had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The firm’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 EPS. On average, equities analysts predict that Automatic Data Processing will post 6.17 EPS for the current fiscal year.

Automatic Data Processing announced that its Board of Directors has initiated a stock repurchase program on Tuesday, November 12th that allows the company to buyback $5.00 billion in outstanding shares. This buyback authorization allows the business services provider to reacquire up to 6.8% of its shares through open market purchases. Shares buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.02%. The ex-dividend date is Thursday, March 12th. Automatic Data Processing’s payout ratio is presently 66.79%.

Several research firms have recently weighed in on ADP. Credit Suisse Group reaffirmed a “buy” rating and set a $190.00 target price on shares of Automatic Data Processing in a report on Sunday, February 2nd. Evercore ISI raised shares of Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 target price for the company in a report on Wednesday, January 22nd. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $174.00 to $180.00 and gave the company an “equal weight” rating in a report on Thursday, January 23rd. Wolfe Research lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. Finally, Moffett Nathanson lowered shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. Ten equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $186.20.

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

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