Automatic Data Processing (ADP) Holdings Reduced by Barrett Asset Management LLC

Barrett Asset Management LLC lowered its stake in Automatic Data Processing (NASDAQ:ADP) by 0.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 272,761 shares of the business services provider’s stock after selling 2,335 shares during the quarter. Automatic Data Processing comprises about 2.3% of Barrett Asset Management LLC’s portfolio, making the stock its 17th biggest holding. Barrett Asset Management LLC owned about 0.06% of Automatic Data Processing worth $31,965,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Beach Investment Management LLC. purchased a new stake in Automatic Data Processing during the second quarter worth about $2,271,000. First National Trust Co. increased its stake in Automatic Data Processing by 2.8% during the second quarter. First National Trust Co. now owns 43,900 shares of the business services provider’s stock worth $4,498,000 after purchasing an additional 1,206 shares during the period. MAI Capital Management increased its stake in Automatic Data Processing by 2.6% during the second quarter. MAI Capital Management now owns 2,552 shares of the business services provider’s stock worth $261,000 after purchasing an additional 65 shares during the period. Victory Capital Management Inc. increased its stake in Automatic Data Processing by 17.7% during the second quarter. Victory Capital Management Inc. now owns 29,636 shares of the business services provider’s stock worth $3,037,000 after purchasing an additional 4,450 shares during the period. Finally, Aviva PLC increased its stake in Automatic Data Processing by 0.8% during the second quarter. Aviva PLC now owns 281,698 shares of the business services provider’s stock worth $28,860,000 after purchasing an additional 2,350 shares during the period. 78.55% of the stock is currently owned by institutional investors.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $111.65 on Tuesday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.06 and a current ratio of 1.06. Automatic Data Processing has a one year low of $95.50 and a one year high of $125.24. The firm has a market cap of $49,490.00, a P/E ratio of 28.92, a P/E/G ratio of 2.43 and a beta of 0.86.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The firm had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. During the same period in the prior year, the firm earned $0.87 earnings per share. The business’s quarterly revenue was up 8.3% compared to the same quarter last year. analysts predict that Automatic Data Processing will post 4.17 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s payout ratio is 65.28%.

ADP has been the topic of a number of recent research reports. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research note on Wednesday, November 8th. Bank of America upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research note on Tuesday, December 5th. Goldman Sachs Group upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $116.02 to $135.00 in a research note on Monday, December 11th. Finally, Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price target on the stock in a research note on Tuesday, November 14th. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $118.43.

In related news, CEO Carlos A. Rodriguez sold 95,756 shares of the company’s stock in a transaction that occurred on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the transaction, the chief executive officer now directly owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Donald Weinstein sold 3,242 shares of the company’s stock in a transaction that occurred on Wednesday, January 31st. The shares were sold at an average price of $125.00, for a total value of $405,250.00. Following the completion of the transaction, the vice president now directly owns 28,366 shares of the company’s stock, valued at $3,545,750. The disclosure for this sale can be found here. Insiders have sold 149,767 shares of company stock worth $17,801,722 over the last 90 days. Insiders own 0.25% of the company’s stock.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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