Automatic Data Processing (NASDAQ:ADP) Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 104,472 shares of the business services provider’s stock after selling 1,711 shares during the period. Calamos Advisors LLC’s holdings in Automatic Data Processing were worth $17,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. BlackRock Inc. raised its holdings in shares of Automatic Data Processing by 1.2% in the 2nd quarter. BlackRock Inc. now owns 30,955,650 shares of the business services provider’s stock valued at $5,117,899,000 after buying an additional 368,108 shares during the period. State Street Corp raised its holdings in shares of Automatic Data Processing by 0.4% in the 3rd quarter. State Street Corp now owns 19,152,523 shares of the business services provider’s stock valued at $3,106,583,000 after buying an additional 66,942 shares during the period. Morgan Stanley raised its holdings in shares of Automatic Data Processing by 6.5% in the 2nd quarter. Morgan Stanley now owns 8,414,928 shares of the business services provider’s stock valued at $1,391,241,000 after buying an additional 516,484 shares during the period. Nuveen Asset Management LLC raised its holdings in shares of Automatic Data Processing by 40,836.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 4,719,538 shares of the business services provider’s stock valued at $780,281,000 after buying an additional 4,708,009 shares during the period. Finally, UBS Asset Management Americas Inc. raised its holdings in shares of Automatic Data Processing by 1.9% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,654,667 shares of the business services provider’s stock valued at $438,896,000 after buying an additional 48,315 shares during the period. 80.05% of the stock is currently owned by institutional investors.

Several equities research analysts recently issued reports on the company. Wolfe Research downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a report on Thursday, October 31st. Credit Suisse Group reiterated a “buy” rating and issued a $185.00 price objective on shares of Automatic Data Processing in a report on Monday, November 4th. Citigroup upped their price target on Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a report on Tuesday. Moffett Nathanson downgraded Automatic Data Processing from a “buy” rating to a “neutral” rating in a report on Tuesday, January 7th. Finally, ValuEngine upgraded Automatic Data Processing from a “sell” rating to a “hold” rating in a report on Tuesday, December 3rd. Eleven research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $182.11.

In other news, VP Donald Weinstein sold 2,000 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $170.08, for a total transaction of $340,160.00. Following the completion of the transaction, the vice president now directly owns 25,710 shares of the company’s stock, valued at approximately $4,372,756.80. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 48,571 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $168.51, for a total value of $8,184,699.21. Following the transaction, the chief executive officer now directly owns 144,899 shares of the company’s stock, valued at $24,416,930.49. The disclosure for this sale can be found here. 0.31% of the stock is owned by corporate insiders.

Shares of NASDAQ ADP opened at $172.81 on Thursday. The stock’s 50-day moving average is $169.87 and its two-hundred day moving average is $166.04. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing has a 1-year low of $131.84 and a 1-year high of $174.50. The company has a market cap of $74.09 billion, a price-to-earnings ratio of 31.71, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $1.34 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.01. Automatic Data Processing had a return on equity of 46.94% and a net margin of 16.52%. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter in the prior year, the business earned $1.20 EPS. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. Equities research analysts anticipate that Automatic Data Processing will post 6.16 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be issued a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.

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

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

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