Wintrust Investments LLC Decreases Position in Automatic Data Processing (NASDAQ:ADP)

Wintrust Investments LLC lessened its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 15.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,523 shares of the business services provider’s stock after selling 457 shares during the period. Wintrust Investments LLC’s holdings in Automatic Data Processing were worth $417,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Greenleaf Trust lifted its holdings in shares of Automatic Data Processing by 3.7% during the 2nd quarter. Greenleaf Trust now owns 8,043 shares of the business services provider’s stock valued at $1,330,000 after purchasing an additional 285 shares during the last quarter. Hendershot Investments Inc. raised its stake in Automatic Data Processing by 2.1% in the 2nd quarter. Hendershot Investments Inc. now owns 24,160 shares of the business services provider’s stock worth $3,994,000 after acquiring an additional 500 shares during the last quarter. TCG Advisors LP purchased a new position in Automatic Data Processing in the 1st quarter worth $161,000. Parallel Advisors LLC raised its stake in Automatic Data Processing by 14.9% in the 1st quarter. Parallel Advisors LLC now owns 6,113 shares of the business services provider’s stock worth $977,000 after acquiring an additional 791 shares during the last quarter. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Automatic Data Processing by 3.9% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 1,854,222 shares of the business services provider’s stock worth $296,193,000 after acquiring an additional 69,989 shares during the last quarter. Hedge funds and other institutional investors own 79.96% of the company’s stock.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction dated Wednesday, July 3rd. The stock was sold at an average price of $162.04, for a total transaction of $286,972.84. Following the sale, the vice president now directly owns 14,896 shares of the company’s stock, valued at approximately $2,413,747.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.33% of the stock is currently owned by company insiders.

ADP traded up $1.20 during midday trading on Wednesday, hitting $169.08. 21,727 shares of the company were exchanged, compared to its average volume of 2,131,209. The company’s 50 day simple moving average is $166.00 and its 200 day simple moving average is $160.25. The firm has a market capitalization of $72.48 billion, a price-to-earnings ratio of 31.03, a price-to-earnings-growth ratio of 2.09 and a beta of 0.91. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.37. Automatic Data Processing has a 1-year low of $121.40 and a 1-year high of $172.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a return on equity of 47.48% and a net margin of 16.17%. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year. During the same period last year, the firm earned $0.99 EPS. On average, equities analysts anticipate that Automatic Data Processing will post 6.16 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be given a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a yield of 1.87%. The ex-dividend date is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

A number of brokerages recently issued reports on ADP. Morgan Stanley raised their target price on Automatic Data Processing from $150.00 to $174.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. BidaskClub upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Tuesday, August 13th. Citigroup raised their target price on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Barclays raised their target price on Automatic Data Processing from $180.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, August 5th. Finally, ValuEngine lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $174.00.

Automatic Data Processing Company 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.

Featured Article: Initial Public Offering (IPO)

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.