Fruth Investment Management Has $5.03 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)


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Fruth Investment Management lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the 4th quarter, HoldingsChannel reports. The fund owned 28,522 shares of the business services provider’s stock after selling 645 shares during the period. Automatic Data Processing makes up about 1.7% of Fruth Investment Management’s portfolio, making the stock its 10th largest holding. Fruth Investment Management’s holdings in Automatic Data Processing were worth $5,025,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Morgan Stanley increased its position in shares of Automatic Data Processing by 17.4% in the 3rd quarter. Morgan Stanley now owns 13,551,926 shares of the business services provider’s stock valued at $1,890,357,000 after acquiring an additional 2,004,886 shares during the period. Coho Partners Ltd. increased its holdings in Automatic Data Processing by 7,737.3% in the 3rd quarter. Coho Partners Ltd. now owns 939,299 shares of the business services provider’s stock worth $131,023,000 after acquiring an additional 927,314 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in Automatic Data Processing by 118.4% during the third quarter. Arrowstreet Capital Limited Partnership now owns 1,368,471 shares of the business services provider’s stock worth $190,888,000 after acquiring an additional 741,879 shares during the period. Voloridge Investment Management LLC purchased a new position in Automatic Data Processing during the third quarter valued at $79,383,000. Finally, Jensen Investment Management Inc. lifted its holdings in Automatic Data Processing by 29.4% during the third quarter. Jensen Investment Management Inc. now owns 1,807,026 shares of the business services provider’s stock valued at $252,062,000 after purchasing an additional 410,732 shares in the last quarter. Hedge funds and other institutional investors own 79.65% of the company’s stock.

In other news, VP Joseph Desilva sold 450 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $160.00, for a total value of $72,000.00. Following the completion of the transaction, the vice president now owns 2,855 shares of the company’s stock, valued at $456,800. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 36,937 shares of the firm’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $160.76, for a total transaction of $5,937,992.12. Following the completion of the transaction, the chief executive officer now directly owns 128,578 shares of the company’s stock, valued at approximately $20,670,199.28. The disclosure for this sale can be found here. In the last three months, insiders sold 77,731 shares of company stock valued at $12,957,058. Insiders own 0.34% of the company’s stock.

Automatic Data Processing stock traded down $4.34 during midday trading on Wednesday, hitting $164.72. 129,495 shares of the stock were exchanged, compared to its average volume of 1,787,441. Automatic Data Processing, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The stock has a market capitalization of $70.63 billion, a price-to-earnings ratio of 29.35, a PEG ratio of 2.53 and a beta of 0.70. The stock’s 50-day simple moving average is $174.21 and its 200 day simple moving average is $153.31. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.34.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 28th. The business services provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.97 by $0.44. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The business had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.29 billion. During the same period last year, the business earned $1.34 earnings per share. Equities analysts anticipate that Automatic Data Processing, Inc. will post 5.64 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 1st. Stockholders of record on Friday, December 11th were paid a $0.93 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.91. The ex-dividend date was Thursday, December 10th. This represents a $3.72 annualized dividend and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.84%.

Several equities analysts have issued reports on the stock. Zacks Investment Research raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating and set a $146.00 price objective on the stock in a report on Wednesday, September 30th. Cowen downgraded shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating and decreased their price objective for the company from $150.00 to $143.00 in a report on Monday, September 21st. Wells Fargo & Company began coverage on shares of Automatic Data Processing in a report on Friday, December 18th. They set an “overweight” rating and a $200.00 price objective on the stock. Morgan Stanley increased their target price on shares of Automatic Data Processing from $147.00 to $159.00 and gave the company an “equal weight” rating in a research report on Thursday, October 29th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $135.00 to $168.00 and gave the company a “hold” rating in a research report on Wednesday, October 28th. Four equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $158.00.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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