Brinker Capital Inc. Boosts Position in Automatic Data Processing (ADP)

Brinker Capital Inc. increased its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 6.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,397 shares of the business services provider’s stock after acquiring an additional 2,861 shares during the period. Brinker Capital Inc.’s holdings in Automatic Data Processing were worth $7,259,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Cerebellum GP LLC lifted its stake in shares of Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after buying an additional 179 shares in the last quarter. Horan Capital Advisors LLC. bought a new position in shares of Automatic Data Processing in the first quarter worth approximately $31,000. Lake Point Wealth Management bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $26,000. AlphaMark Advisors LLC lifted its stake in shares of Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after buying an additional 150 shares in the last quarter. Finally, Tributary Capital Management LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $26,000. 80.48% of the stock is currently owned by institutional investors and hedge funds.

In other Automatic Data Processing news, VP Douglas W. Politi sold 6,035 shares of the company’s stock in a transaction that occurred on Tuesday, February 5th. The shares were sold at an average price of $145.01, for a total transaction of $875,135.35. Following the completion of the sale, the vice president now directly owns 28,829 shares of the company’s stock, valued at $4,180,493.29. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the sale, the vice president now directly owns 24,122 shares of the company’s stock, valued at $3,742,045.86. The disclosure for this sale can be found here. Insiders have sold 112,578 shares of company stock valued at $17,078,216 over the last three months. 0.33% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on ADP shares. Zacks Investment Research reiterated a “buy” rating and issued a $146.00 target price on shares of Automatic Data Processing in a research note on Monday, December 31st. BidaskClub downgraded shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Eight investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $153.43.

ADP opened at $163.50 on Thursday. 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 twelve month low of $112.58 and a twelve month high of $165.50. The company has a market cap of $71.60 billion, a PE ratio of 37.59, a P/E/G ratio of 2.32 and a beta of 0.96.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 30th. The business services provider reported $1.34 earnings per share for the quarter, beating the consensus estimate of $1.18 by $0.16. Automatic Data Processing had a net margin of 13.12% and a return on equity of 51.92%. The firm had revenue of $3.51 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the company earned $1.03 earnings per share. The firm’s quarterly revenue was up 8.3% on a year-over-year basis. As a group, research analysts predict that Automatic Data Processing will post 5.37 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, June 13th. This represents a $3.16 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s payout ratio is 72.64%.

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Automatic Data Processing 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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