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

Tower Bridge Advisors decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 4th quarter, Holdings Channel.com reports. The fund owned 6,629 shares of the business services provider’s stock after selling 79 shares during the period. Tower Bridge Advisors’ holdings in Automatic Data Processing were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the third quarter worth $35,000. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $315.18 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $316.46. The business’s fifty day moving average is $300.66 and its two-hundred day moving average is $291.92. The stock has a market capitalization of $128.42 billion, a P/E ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $293.55.

Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

About Automatic Data Processing

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