Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Tower Bridge Advisors

Tower Bridge Advisors lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 40,336 shares of the business services provider’s stock after selling 602 shares during the quarter. Tower Bridge Advisors’ holdings in Automatic Data Processing were worth $7,602,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADP. Chandler Asset Management Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at about $26,000. Freedman Financial Associates Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $35,000. IronBridge Private Wealth LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $42,000. Atlas Private Wealth Advisors increased its stake in shares of Automatic Data Processing by 127.6% in the 1st quarter. Atlas Private Wealth Advisors now owns 223 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 125 shares in the last quarter. Finally, Better Money Decisions LLC purchased a new position in shares of Automatic Data Processing in the 1st quarter valued at about $43,000. 79.29% of the stock is owned by institutional investors and hedge funds.

In related news, VP Deborah L. Dyson sold 500 shares of the company’s stock in a transaction that occurred on Monday, April 12th. The stock was sold at an average price of $188.72, for a total value of $94,360.00. Following the transaction, the vice president now directly owns 24,686 shares in the company, valued at $4,658,741.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Stuart Sackman sold 576 shares of the company’s stock in a transaction that occurred on Monday, March 15th. The shares were sold at an average price of $185.00, for a total value of $106,560.00. Following the completion of the transaction, the vice president now owns 23,221 shares in the company, valued at $4,295,885. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 6,975 shares of company stock worth $1,374,522. Insiders own 0.34% of the company’s stock.

Several equities analysts recently weighed in on ADP shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their price target on Automatic Data Processing from $190.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, May 3rd. Mizuho lifted their price target on Automatic Data Processing from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, May 27th. They noted that the move was a valuation call. Jefferies Financial Group lifted their price target on Automatic Data Processing from $197.00 to $200.00 and gave the company a “hold” rating in a research note on Wednesday, March 24th. Morgan Stanley boosted their price objective on Automatic Data Processing from $171.00 to $185.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 29th. Finally, Barclays boosted their price objective on Automatic Data Processing from $197.00 to $212.00 and gave the stock an “overweight” rating in a research note on Monday, May 3rd. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $177.81.

Shares of Automatic Data Processing stock traded down $0.98 on Friday, hitting $199.08. 22,818 shares of the company were exchanged, compared to its average volume of 1,916,466. The stock has a market cap of $84.71 billion, a PE ratio of 34.64, a price-to-earnings-growth ratio of 2.76 and a beta of 0.71. The stock’s 50-day moving average is $193.55. Automatic Data Processing, Inc. has a 1-year low of $127.31 and a 1-year high of $200.51. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.35.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Tuesday, April 27th. The business services provider reported $1.89 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.82 by $0.07. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.08 billion. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The business’s revenue for the quarter was up 1.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.92 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 5.95 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 1st. Stockholders of record on Friday, June 11th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, June 10th. Automatic Data Processing’s dividend payout ratio is currently 62.84%.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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