Benedict Financial Advisors Inc. Sells 717 Shares of Automatic Data Processing (ADP)

Benedict Financial Advisors Inc. lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 29,443 shares of the business services provider’s stock after selling 717 shares during the period. Automatic Data Processing accounts for approximately 1.7% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 19th largest holding. Benedict Financial Advisors Inc.’s holdings in Automatic Data Processing were worth $3,219,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the business. OppenheimerFunds Inc. increased its holdings in shares of Automatic Data Processing by 4.4% in the first quarter. OppenheimerFunds Inc. now owns 14,524 shares of the business services provider’s stock worth $1,487,000 after purchasing an additional 618 shares during the period. TLP Group LLC bought a new position in shares of Automatic Data Processing in the first quarter worth $385,000. Principal Financial Group Inc. increased its holdings in shares of Automatic Data Processing by 5.7% in the first quarter. Principal Financial Group Inc. now owns 684,133 shares of the business services provider’s stock worth $70,048,000 after purchasing an additional 37,045 shares during the period. FMR LLC increased its holdings in shares of Automatic Data Processing by 10.5% in the first quarter. FMR LLC now owns 859,772 shares of the business services provider’s stock worth $88,032,000 after purchasing an additional 81,527 shares during the period. Finally, Teachers Advisors LLC increased its holdings in shares of Automatic Data Processing by 16.0% in the first quarter. Teachers Advisors LLC now owns 1,230,596 shares of the business services provider’s stock worth $126,001,000 after purchasing an additional 169,350 shares during the period. Hedge funds and other institutional investors own 78.64% of the company’s stock.

Several research analysts have recently weighed in on ADP shares. BMO Capital Markets reaffirmed a “market perform” rating and issued a $105.00 price target on shares of Automatic Data Processing in a report on Wednesday, August 9th. Wells Fargo & Company reaffirmed a “market perform” rating on shares of Automatic Data Processing in a report on Wednesday, August 9th. Barclays reissued an “equal weight” rating and issued a $105.00 target price on shares of Automatic Data Processing in a research note on Tuesday, August 15th. Citigroup reissued a “neutral” rating and issued a $110.00 target price (up previously from $98.00) on shares of Automatic Data Processing in a research note on Thursday, August 17th. Finally, Evercore ISI reissued an “in-line” rating and issued a $115.00 target price on shares of Automatic Data Processing in a research note on Sunday, August 20th. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $112.37.

Automatic Data Processing (ADP) opened at $115.92 on Thursday. The company has a market capitalization of $51,302.89, a price-to-earnings ratio of 30.93, a P/E/G ratio of 2.96 and a beta of 0.85. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.10 and a quick ratio of 1.10. Automatic Data Processing has a 12 month low of $94.11 and a 12 month high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. Automatic Data Processing had a return on equity of 42.34% and a net margin of 14.08%. The firm had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 5.6% compared to the same quarter last year. equities analysts forecast that Automatic Data Processing will post 3.91 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be paid a dividend of $0.63 per share. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio (DPR) is 58.02%.

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Automatic Data Processing Company Profile

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.

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

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