Automatic Data Processing (ADP) Shares Sold by Coho Partners Ltd.

Share on StockTwits

Coho Partners Ltd. reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 24.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 826,192 shares of the business services provider’s stock after selling 270,011 shares during the period. Automatic Data Processing accounts for 2.7% of Coho Partners Ltd.’s investment portfolio, making the stock its 21st biggest holding. Coho Partners Ltd. owned 0.19% of Automatic Data Processing worth $108,330,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Neuberger Berman Group LLC lifted its position in Automatic Data Processing by 4.1% during the 3rd quarter. Neuberger Berman Group LLC now owns 355,800 shares of the business services provider’s stock worth $53,605,000 after acquiring an additional 13,915 shares during the last quarter. Captrust Financial Advisors lifted its position in Automatic Data Processing by 199.3% during the 3rd quarter. Captrust Financial Advisors now owns 4,750 shares of the business services provider’s stock worth $719,000 after acquiring an additional 3,163 shares during the last quarter. Nachman Norwood & Parrott Inc acquired a new position in Automatic Data Processing during the 4th quarter worth $1,606,000. Koshinski Asset Management Inc. lifted its position in Automatic Data Processing by 264.5% during the 3rd quarter. Koshinski Asset Management Inc. now owns 5,541 shares of the business services provider’s stock worth $835,000 after acquiring an additional 4,021 shares during the last quarter. Finally, R.H. Dinel Investment Counsel Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth $3,406,000. Institutional investors and hedge funds own 83.57% of the company’s stock.

In related news, VP Maria Black sold 1,614 shares of the stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $146.61, for a total value of $236,628.54. Following the completion of the transaction, the vice president now owns 17,691 shares of the company’s stock, valued at $2,593,677.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carlos A. Rodriguez sold 62,228 shares of the stock in a transaction dated Friday, November 16th. The stock was sold at an average price of $145.59, for a total transaction of $9,059,774.52. Following the completion of the transaction, the chief executive officer now directly owns 137,177 shares of the company’s stock, valued at approximately $19,971,599.43. The disclosure for this sale can be found here. Insiders have sold 144,269 shares of company stock valued at $20,430,618 in the last ninety days. 0.33% of the stock is owned by company insiders.

Shares of ADP opened at $150.46 on Thursday. The stock has a market cap of $63.95 billion, a PE ratio of 34.59, a P/E/G ratio of 2.14 and a beta of 0.91. The company has a debt-to-equity ratio of 0.42, a current ratio of 1.05 and a quick ratio of 1.05. Automatic Data Processing has a 52 week low of $109.14 and a 52 week high of $153.51.

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 analyst estimates of $3.43 billion. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.03 earnings per share. Equities analysts predict that Automatic Data Processing will post 5.37 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be given a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

A number of research analysts have weighed in on the stock. Zacks Investment Research reissued a “hold” rating on shares of Automatic Data Processing in a research report on Monday, November 12th. Barclays assumed coverage on shares of Automatic Data Processing in a research report on Wednesday, November 14th. They set an “overweight” rating and a $168.00 target price for the company. Citigroup boosted their target price on shares of Automatic Data Processing from $137.00 to $147.00 and gave the stock a “neutral” rating in a research report on Thursday, November 1st. BMO Capital Markets cut their target price on shares of Automatic Data Processing from $155.00 to $150.00 and set a “market perform” rating for the company in a research report on Thursday, November 1st. Finally, Jefferies Financial Group boosted their target price on shares of Automatic Data Processing to $167.00 and gave the stock a “hold” rating in a research report on Thursday, November 1st. Eight analysts have rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $151.87.

COPYRIGHT VIOLATION NOTICE: This report was first reported by Highlight Press and is the property of of Highlight Press. If you are accessing this report on another publication, it was illegally stolen and republished in violation of US & international copyright and trademark legislation. The original version of this report can be accessed at https://highlightpress.com/2019/02/14/automatic-data-processing-adp-shares-sold-by-coho-partners-ltd.html.

About Automatic Data Processing

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.

Read More: Mutual Funds

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply