Headlands Technologies LLC Sells 4,459 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Key Points

• Headlands Technologies LLC reduced its stake in Automatic Data Processing, Inc. by 39.2%, owning 6,924 shares worth approximately $2,115,000 after selling 4,459 shares in the first quarter.
quarterly earnings of $2.26 per share beat estimates and demonstrated a 6.3% revenue growth year-over-year, reaching $5.13 billion.
• The firm announced a quarterly dividend of $1.54 per share, reflecting a 2.0% yield with a payout ratio of 61.72%.

Headlands Technologies LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 39.2% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,924 shares of the business services provider's stock after selling 4,459 shares during the quarter. Headlands Technologies LLC's holdings in Automatic Data Processing were worth $2,115,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. von Borstel & Associates Inc. bought a new position in shares of Automatic Data Processing in the first quarter valued at approximately $30,000. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after acquiring an additional 38 shares during the period. Abound Wealth Management lifted its holdings in Automatic Data Processing by 58.1% during the first quarter. Abound Wealth Management now owns 117 shares of the business services provider's stock worth $36,000 after acquiring an additional 43 shares during the period. Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing during the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing during the fourth quarter worth $37,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $301.64 on Thursday. The stock has a market cap of $122.44 billion, a PE ratio of 30.22, a price-to-earnings-growth ratio of 2.75 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $258.51 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.02 and a current ratio of 1.05. The stock has a fifty day moving average of $308.93 and a 200-day moving average of $305.30.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The business services provider reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.23 by $0.03. The company had revenue of $5.13 billion during the quarter, compared to analysts' expectations of $5.05 billion. Automatic Data Processing had a return on equity of 72.84% and a net margin of 19.84%. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.09 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Friday, September 12th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.0%. Automatic Data Processing's payout ratio is 61.72%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ADP shares. Stifel Nicolaus lifted their price target on Automatic Data Processing from $305.00 to $318.00 and gave the stock a "hold" rating in a report on Thursday, July 31st. Morgan Stanley lifted their price target on Automatic Data Processing from $310.00 to $311.00 and gave the stock an "equal weight" rating in a report on Thursday, July 31st. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. BMO Capital Markets upgraded Automatic Data Processing to a "hold" rating and set a $340.00 price target on the stock in a report on Thursday, July 10th. Finally, TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research report on Wednesday, May 21st. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $314.33.

About Automatic Data Processing

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates in 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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