Birch Hill Investment Advisors LLC Has $4.40 Million Position in Automatic Data Processing (ADP)

Birch Hill Investment Advisors LLC trimmed its position in Automatic Data Processing (NASDAQ:ADP) by 1.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,516 shares of the business services provider’s stock after selling 453 shares during the period. Birch Hill Investment Advisors LLC’s holdings in Automatic Data Processing were worth $4,397,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in ADP. Pershing Square Capital Management L.P. lifted its holdings in Automatic Data Processing by 402.5% in the third quarter. Pershing Square Capital Management L.P. now owns 8,798,442 shares of the business services provider’s stock valued at $961,846,000 after acquiring an additional 7,047,575 shares during the period. Janus Henderson Group PLC lifted its holdings in Automatic Data Processing by 5,962.5% in the second quarter. Janus Henderson Group PLC now owns 4,013,865 shares of the business services provider’s stock valued at $411,260,000 after acquiring an additional 3,947,657 shares during the period. Canada Pension Plan Investment Board lifted its holdings in Automatic Data Processing by 42,776.7% in the third quarter. Canada Pension Plan Investment Board now owns 1,376,771 shares of the business services provider’s stock valued at $150,509,000 after acquiring an additional 1,373,560 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Automatic Data Processing by 42.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 3,993,394 shares of the business services provider’s stock worth $467,986,000 after buying an additional 1,199,402 shares during the last quarter. Finally, Fundsmith LLP raised its stake in shares of Automatic Data Processing by 29.0% during the 2nd quarter. Fundsmith LLP now owns 5,176,340 shares of the business services provider’s stock worth $530,368,000 after buying an additional 1,164,972 shares during the last quarter. 78.84% of the stock is owned by institutional investors.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $116.10 on Thursday. The company has a market capitalization of $51,157.75, a PE ratio of 29.90, a P/E/G ratio of 2.52 and a beta of 0.86. Automatic Data Processing has a 52-week low of $95.50 and a 52-week high of $125.24. 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 (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The firm had revenue of $3.24 billion during the quarter, compared to analysts’ expectations of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. The firm’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. analysts expect that Automatic Data Processing will post 4.17 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is presently 65.45%.

ADP has been the subject of several research reports. Barclays lifted their price target on Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 26th. Sanford C. Bernstein lifted their price target on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 31st. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. BMO Capital Markets cut their price target on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Finally, Royal Bank of Canada cut their price target on Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $118.43.

In related news, VP Donald Weinstein sold 3,242 shares of Automatic Data Processing stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total transaction of $405,250.00. Following the completion of the sale, the vice president now owns 28,366 shares in the company, valued at approximately $3,545,750. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 95,756 shares of Automatic Data Processing stock in a transaction dated Thursday, January 4th. The shares were sold at an average price of $118.09, for a total value of $11,307,826.04. Following the completion of the sale, the chief executive officer now owns 124,722 shares of the company’s stock, valued at approximately $14,728,420.98. The disclosure for this sale can be found here. In the last quarter, insiders have sold 219,666 shares of company stock valued at $25,650,681. 0.25% of the stock is currently owned by company insiders.

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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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