Automatic Data Processing (ADP) Position Reduced by BTIM Corp.

BTIM Corp. cut its holdings in Automatic Data Processing (NASDAQ:ADP) by 0.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 697,884 shares of the business services provider’s stock after selling 4,849 shares during the period. Automatic Data Processing comprises about 1.2% of BTIM Corp.’s holdings, making the stock its 16th largest position. BTIM Corp. owned about 0.16% of Automatic Data Processing worth $81,785,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADP. TIAA FSB increased its stake in shares of Automatic Data Processing by 3.1% during the 4th quarter. TIAA FSB now owns 45,330 shares of the business services provider’s stock valued at $5,312,000 after acquiring an additional 1,362 shares during the last quarter. Highland Private Wealth Management acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $209,000. Nelson Roberts Investment Advisors LLC increased its position in Automatic Data Processing by 36.4% during the 4th quarter. Nelson Roberts Investment Advisors LLC now owns 4,733 shares of the business services provider’s stock worth $555,000 after purchasing an additional 1,262 shares in the last quarter. Farmers & Merchants Investments Inc. increased its position in Automatic Data Processing by 2.1% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 44,045 shares of the business services provider’s stock worth $5,162,000 after purchasing an additional 920 shares in the last quarter. Finally, Legacy Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $103,000. Institutional investors own 78.55% of the company’s stock.

Several analysts have issued reports on ADP shares. Citigroup reiterated a “neutral” rating and set a $118.00 target price (up from $110.00) on shares of Automatic Data Processing in a research note on Friday, January 12th. BMO Capital Markets reduced their price objective on Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating on the stock in a research note on Thursday, February 1st. Zacks Investment Research cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. BidaskClub cut Automatic Data Processing from a “hold” rating to a “sell” rating in a research note on Saturday, January 13th. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing from $113.00 to $133.00 and gave the stock a “hold” rating in a research note on Thursday, February 1st. Eleven investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $118.43.

Automatic Data Processing (ADP) traded up $0.22 during trading hours on Tuesday, reaching $111.65. The company had a trading volume of 2,040,600 shares, compared to its average volume of 2,052,773. The firm has a market capitalization of $49,090.00, a price-to-earnings ratio of 28.69, a P/E/G ratio of 2.43 and a beta of 0.86. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51.

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

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a $0.63 dividend. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 65.28%.

In other news, VP Stuart Sackman sold 238 shares of Automatic Data Processing stock in a transaction dated Monday, January 22nd. The stock was sold at an average price of $121.65, for a total transaction of $28,952.70. Following the completion of the sale, the vice president now directly owns 18,676 shares in the company, valued at approximately $2,271,935.40. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Donald Weinstein sold 3,242 shares of Automatic Data Processing stock in a transaction dated Wednesday, January 31st. The shares were sold at an average price of $125.00, for a total value of $405,250.00. Following the sale, the vice president now 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 a total of 149,767 shares of company stock valued at $17,801,722 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

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Automatic Data Processing Company Profile

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.

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

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