Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Bryn Mawr Capital Management LLC

Bryn Mawr Capital Management LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 67.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,425 shares of the business services provider’s stock after selling 7,039 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Automatic Data Processing were worth $798,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Automatic Data Processing in the 3rd quarter valued at $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at $35,000. Evolution Advisers Inc. purchased a new position in Automatic Data Processing in the 4th quarter valued at $41,000. Raleigh Capital Management Inc. lifted its holdings in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares in the last quarter. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on ADP. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $254.58.

Insider Transactions at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $243.07 on Friday. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a P/E/G ratio of 2.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50-day moving average of $246.70 and a two-hundred day moving average of $239.26. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the previous year, the company posted $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

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 given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Automatic Data Processing Company Profile

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.