Brown Advisory Inc. Decreases Position in Automatic Data Processing (ADP)

Brown Advisory Inc. cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 10.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 370,801 shares of the business services provider’s stock after selling 42,915 shares during the period. Brown Advisory Inc.’s holdings in Automatic Data Processing were worth $42,079,000 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 bought and sold shares of ADP. Truewealth LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at $104,000. Fuller & Thaler Asset Management Inc. acquired a new position in Automatic Data Processing during the fourth quarter valued at $117,000. Icon Wealth Partners LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at $139,000. Captrust Financial Advisors acquired a new position in Automatic Data Processing during the fourth quarter valued at $180,000. Finally, AIMZ Investment Advisors LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at $203,000. Institutional investors own 78.64% of the company’s stock.

In related news, VP Maria Black sold 8,137 shares of the company’s stock in a transaction dated Wednesday, June 13th. The shares were sold at an average price of $138.22, for a total transaction of $1,124,696.14. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Stuart Sackman sold 2,566 shares of the company’s stock in a transaction dated Tuesday, June 5th. The stock was sold at an average price of $135.00, for a total transaction of $346,410.00. Following the transaction, the vice president now owns 21,740 shares of the company’s stock, valued at approximately $2,934,900. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 21,438 shares of company stock valued at $2,919,488. Insiders own 0.25% of the company’s stock.

Automatic Data Processing opened at $134.14 on Friday, according to MarketBeat.com. Automatic Data Processing has a twelve month low of $100.51 and a twelve month high of $141.52. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.05 and a quick ratio of 1.05. The stock has a market cap of $58.62 billion, a P/E ratio of 36.25, a P/E/G ratio of 2.71 and a beta of 0.89.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 2nd. The business services provider reported $1.52 earnings per share for the quarter, topping the consensus estimate of $1.44 by $0.08. Automatic Data Processing had a net margin of 13.60% and a return on equity of 45.69%. The firm had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same quarter in the prior year, the firm earned $1.31 EPS. The company’s revenue for the quarter was up 8.3% on a year-over-year basis. sell-side analysts expect that Automatic Data Processing will post 4.34 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, July 1st. Investors of record on Friday, June 8th will be given a dividend of $0.69 per share. This represents a $2.76 annualized dividend and a dividend yield of 2.06%. The ex-dividend date is Thursday, June 7th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $0.63. Automatic Data Processing’s dividend payout ratio is 74.59%.

A number of research firms recently issued reports on ADP. BMO Capital Markets boosted their target price on shares of Automatic Data Processing from $118.00 to $126.00 and gave the company a “market perform” rating in a research report on Thursday, May 3rd. Zacks Investment Research downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Friday, May 18th. Deutsche Bank upped their price objective on shares of Automatic Data Processing from $128.00 to $138.00 and gave the stock a “hold” rating in a research report on Wednesday, June 13th. BidaskClub upgraded shares of Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a research report on Friday, May 4th. Finally, Wedbush upped their price objective on shares of Automatic Data Processing from $101.25 to $145.00 and gave the stock a “neutral” rating in a research report on Wednesday, June 13th. Eleven research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $132.00.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. The company operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) business process outsourcing and technology-enabled human capital management solutions.

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing (NASDAQ:ADP).

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.


Leave a Reply