Automatic Data Processing (ADP) Stake Lowered by Brown Advisory Inc.

Brown Advisory Inc. lowered its holdings in Automatic Data Processing (NASDAQ:ADP) by 0.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 413,716 shares of the business services provider’s stock after selling 1,628 shares during the quarter. Brown Advisory Inc. owned about 0.09% of Automatic Data Processing worth $48,485,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Pershing Square Capital Management L.P. grew its position in Automatic Data Processing by 402.5% in the 3rd 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 purchasing an additional 7,047,575 shares during the period. Janus Henderson Group PLC lifted its stake in Automatic Data Processing by 5,962.5% during the 2nd 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 in the last quarter. Canada Pension Plan Investment Board lifted its stake in Automatic Data Processing by 42,776.7% during the 3rd 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in 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 valued at $467,986,000 after acquiring an additional 1,199,402 shares in the last quarter. Finally, Fundsmith LLP lifted its stake in 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 valued at $530,368,000 after acquiring an additional 1,164,972 shares in the last quarter. 78.84% of the stock is owned by institutional investors and hedge funds.

In related news, VP Donald Weinstein sold 3,242 shares of the business’s stock in a transaction dated Wednesday, January 31st. The stock was sold at an average price of $125.00, for a total value of $405,250.00. Following the sale, the vice president now directly owns 28,366 shares in the company, valued at approximately $3,545,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $112.29, for a total value of $7,848,958.71. Following the completion of the sale, the chief executive officer now owns 161,085 shares in the company, valued at $18,088,234.65. The disclosure for this sale can be found here. Insiders have sold a total of 219,666 shares of company stock worth $25,650,681 over the last quarter. Company insiders own 0.25% of the company’s stock.

Several equities analysts have weighed in on the company. Zacks Investment Research upgraded Automatic Data Processing from a “hold” rating to a “buy” rating and set a $133.00 price objective on the stock in a research note on Monday, February 5th. Royal Bank of Canada restated a “neutral” rating on shares of Automatic Data Processing in a research note on Thursday, February 1st. BMO Capital Markets dropped 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. Barclays raised their price objective on Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a research note on Thursday, February 1st. Finally, Stifel Nicolaus raised their price objective on Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a research note on Thursday, February 1st. Eleven research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $118.43.

Shares of Automatic Data Processing (NASDAQ:ADP) opened at $115.43 on Friday. The company has a market capitalization of $51,170.00, a price-to-earnings ratio of 30.70, a PEG 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 released its earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, topping the Zacks’ consensus estimate of $0.89 by $0.10. The company had revenue of $3.24 billion for 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 business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.87 EPS. research analysts predict that Automatic Data Processing will post 4.17 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Sunday, April 1st. Stockholders of record on Friday, March 9th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.18%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s payout ratio is 67.02%.

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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.

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

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