Birch Hill Investment Advisors LLC Trims Stake in Automatic Data Processing (ADP)

Birch Hill Investment Advisors LLC lessened its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.2% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 37,516 shares of the business services provider’s stock after selling 453 shares during the quarter. Birch Hill Investment Advisors LLC’s holdings in Automatic Data Processing were worth $4,397,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Beach Investment Management LLC. acquired a new stake in Automatic Data Processing in the second quarter valued at approximately $2,271,000. Delta Lloyd Asset Management N.V. purchased a new position in Automatic Data Processing in the second quarter valued at approximately $4,144,000. Burney Co. increased its stake in Automatic Data Processing by 4.4% in the second quarter. Burney Co. now owns 22,576 shares of the business services provider’s stock valued at $2,291,000 after purchasing an additional 942 shares during the last quarter. Cedar Capital LLC purchased a new position in Automatic Data Processing in the second quarter valued at approximately $254,000. Finally, Sustainable Growth Advisers LP increased its stake in Automatic Data Processing by 3.7% in the second quarter. Sustainable Growth Advisers LP now owns 1,636,952 shares of the business services provider’s stock valued at $167,722,000 after purchasing an additional 57,956 shares during the last quarter. 78.84% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Stuart Sackman sold 238 shares of Automatic Data Processing stock in a transaction on Monday, January 22nd. The shares were sold at an average price of $121.65, for a total value of $28,952.70. Following the transaction, the vice president now directly owns 18,676 shares in the company, valued at approximately $2,271,935.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carlos A. Rodriguez sold 69,899 shares of Automatic Data Processing stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the completion of the transaction, 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. Over the last 90 days, insiders have sold 219,666 shares of company stock worth $25,650,681. Insiders own 0.25% of the company’s stock.

Automatic Data Processing (NASDAQ ADP) opened at $116.10 on Thursday. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.51. The stock has a market cap of $51,157.75, a P/E ratio of 29.90, a PEG ratio of 2.52 and a beta of 0.86. Automatic Data Processing has a 1 year low of $95.50 and a 1 year high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.10. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. research analysts predict that Automatic Data Processing will post 4.17 EPS for the current 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 given a dividend of $0.63 per share. The ex-dividend date is Thursday, March 8th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.17%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.45%.

Several equities analysts have commented on ADP shares. Barclays increased their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the company an “equal weight” rating in a research note on Thursday, October 26th. Sanford C. Bernstein increased their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the company an “outperform” rating in a research note on Tuesday, October 31st. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Thursday, November 2nd. BMO Capital Markets dropped their price target on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a research note on Friday, November 3rd. Finally, Royal Bank of Canada dropped their price target on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating on the stock in a research note on Monday, November 6th. Eleven research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $118.43.

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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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