Automatic Data Processing (NASDAQ:ADP) Shares Sold by Sandy Spring Bank

Sandy Spring Bank trimmed its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 0.3% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,268 shares of the business services provider’s stock after selling 66 shares during the quarter. Sandy Spring Bank’s holdings in Automatic Data Processing were worth $3,796,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in the business. CIBC Asset Management Inc lifted its position in shares of Automatic Data Processing by 2.3% during the third quarter. CIBC Asset Management Inc now owns 74,471 shares of the business services provider’s stock worth $12,021,000 after purchasing an additional 1,684 shares in the last quarter. Squarepoint Ops LLC lifted its position in shares of Automatic Data Processing by 38.8% during the third quarter. Squarepoint Ops LLC now owns 105,650 shares of the business services provider’s stock worth $17,054,000 after purchasing an additional 29,532 shares in the last quarter. Advisors Capital Management LLC lifted its position in shares of Automatic Data Processing by 215.6% during the fourth quarter. Advisors Capital Management LLC now owns 10,958 shares of the business services provider’s stock worth $1,868,000 after purchasing an additional 7,486 shares in the last quarter. Eastern Bank lifted its position in shares of Automatic Data Processing by 4.9% during the fourth quarter. Eastern Bank now owns 23,770 shares of the business services provider’s stock worth $4,053,000 after purchasing an additional 1,106 shares in the last quarter. Finally, Windsor Group LTD lifted its position in shares of Automatic Data Processing by 30.0% during the fourth quarter. Windsor Group LTD now owns 2,267 shares of the business services provider’s stock worth $386,000 after purchasing an additional 523 shares in the last quarter. 80.12% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ:ADP traded up $1.14 during midday trading on Friday, reaching $181.25. The company had a trading volume of 1,566,486 shares, compared to its average volume of 1,999,610. The company has a debt-to-equity ratio of 0.25, a current ratio of 1.02 and a quick ratio of 1.02. The stock’s fifty day moving average price is $173.88 and its 200-day moving average price is $167.61. The stock has a market capitalization of $77.44 billion, a P/E ratio of 32.02, a PEG ratio of 2.24 and a beta of 0.87. Automatic Data Processing has a one year low of $148.07 and a one year high of $180.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.08. The business had revenue of $3.67 billion during the quarter, compared to analyst estimates of $3.69 billion. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The business’s revenue was up 5.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.34 earnings per share. As a group, sell-side analysts forecast that Automatic Data Processing will post 6.17 earnings per share for the current year.

Automatic Data Processing announced that its board has authorized a stock repurchase plan on Tuesday, November 12th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the business services provider to reacquire up to 6.8% of its stock through open market purchases. Stock buyback plans are typically an indication that the company’s board of directors believes its shares are undervalued.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Friday, March 13th will be paid a $0.91 dividend. The ex-dividend date is Thursday, March 12th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.79%.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 3,250 shares of the business’s stock in a transaction on Tuesday, February 4th. The shares were sold at an average price of $176.67, for a total transaction of $574,177.50. Following the completion of the sale, the vice president now owns 18,304 shares in the company, valued at $3,233,767.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP John Ayala sold 6,484 shares of the business’s stock in a transaction on Friday, January 17th. The shares were sold at an average price of $176.03, for a total transaction of $1,141,378.52. Following the sale, the vice president now owns 19,578 shares of the company’s stock, valued at approximately $3,446,315.34. The disclosure for this sale can be found here. In the last 90 days, insiders sold 14,528 shares of company stock valued at $2,556,051. Insiders own 0.31% of the company’s stock.

A number of research analysts have recently commented on ADP shares. Wolfe Research cut shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research report on Thursday, October 31st. Evercore ISI raised shares of Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 target price on the stock in a research report on Wednesday, January 22nd. BidaskClub raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Wednesday, January 29th. ValuEngine raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research report on Tuesday, December 3rd. Finally, Credit Suisse Group restated a “buy” rating and issued a $190.00 price target on shares of Automatic Data Processing in a research note on Sunday, February 2nd. Ten analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Automatic Data Processing has a consensus rating of “Hold” and an average target price of $186.20.

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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