Automatic Data Processing (ADP) Position Lessened by Weatherly Asset Management L. P.

Weatherly Asset Management L. P. trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 3.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,514 shares of the business services provider’s stock after selling 62 shares during the quarter. Weatherly Asset Management L. P.’s holdings in Automatic Data Processing were worth $242,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADP. Cerebellum GP LLC boosted its stake in shares of Automatic Data Processing by 1,376.9% in the 4th quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock valued at $25,000 after buying an additional 179 shares during the period. Horan Capital Advisors LLC. purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at about $31,000. Lake Point Wealth Management purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $26,000. AlphaMark Advisors LLC boosted its stake in shares of Automatic Data Processing by 319.1% in the 4th quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock valued at $26,000 after buying an additional 150 shares during the period. Finally, Tributary Capital Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $26,000. 80.53% of the stock is owned by hedge funds and other institutional investors.

ADP stock opened at $160.57 on Friday. The company has a market cap of $68.98 billion, a P/E ratio of 36.91, a price-to-earnings-growth ratio of 2.27 and a beta of 0.95. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $165.50. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.05.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The firm had revenue of $3.85 billion during the quarter, compared to analysts’ expectations of $3.91 billion. During the same quarter in the previous year, the business earned $1.57 earnings per share. The firm’s revenue was up 4.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing will post 5.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio is currently 72.64%.

In other Automatic Data Processing news, VP Stuart Sackman sold 1,478 shares of the business’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $155.13, for a total value of $229,282.14. Following the completion of the sale, the vice president now owns 24,122 shares in the company, valued at $3,742,045.86. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Donald Weinstein sold 1,706 shares of the business’s stock in a transaction that occurred on Wednesday, February 13th. The shares were sold at an average price of $150.39, for a total value of $256,565.34. Following the completion of the sale, the vice president now owns 26,220 shares of the company’s stock, valued at approximately $3,943,225.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,526 shares of company stock valued at $10,687,289. 0.33% of the stock is owned by company insiders.

Several brokerages have recently issued reports on ADP. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 price objective for the company in a research note on Thursday. Barclays lifted their price objective on Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a research note on Monday. Citigroup lifted their price objective on Automatic Data Processing from $147.00 to $162.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Sanford C. Bernstein cut Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, BidaskClub cut Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Eight research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $159.00.

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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.

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

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