Automatic Data Processing (ADP) Position Increased by Brown Advisory Securities LLC
Brown Advisory Securities LLC increased its position in shares of Automatic Data Processing (NYSE:ADP) by 1.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 6,180 shares of the business services provider’s stock after buying an additional 70 shares during the period. Brown Advisory Securities LLC’s holdings in Automatic Data Processing were worth $634,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Private Trust Co. NA raised its position in Automatic Data Processing by 7.4% in the first quarter. Private Trust Co. NA now owns 9,620 shares of the business services provider’s stock worth $985,000 after buying an additional 665 shares during the last quarter. TNB Financial bought a new position in Automatic Data Processing during the first quarter worth $582,000. First National Trust Co. raised its position in Automatic Data Processing by 10.4% in the first quarter. First National Trust Co. now owns 42,694 shares of the business services provider’s stock worth $4,372,000 after buying an additional 4,005 shares during the last quarter. Community Bank & Trust Waco Texas raised its position in Automatic Data Processing by 1.3% in the first quarter. Community Bank & Trust Waco Texas now owns 8,000 shares of the business services provider’s stock worth $819,000 after buying an additional 100 shares during the last quarter. Finally, Honkamp Krueger Financial Services Inc. raised its position in Automatic Data Processing by 9.6% in the first quarter. Honkamp Krueger Financial Services Inc. now owns 3,231 shares of the business services provider’s stock worth $331,000 after buying an additional 283 shares during the last quarter.
Shares of Automatic Data Processing (NYSE:ADP) traded up 0.23% on Friday, hitting $109.15. The stock had a trading volume of 706,001 shares. Automatic Data Processing has a 52 week low of $85.48 and a 52 week high of $121.77. The stock has a market capitalization of $48.50 billion and a P/E ratio of 28.35. The firm has a 50-day moving average price of $106.07 and a 200-day moving average price of $102.56. Automatic Data Processing also was the target of some unusual options trading on Tuesday. Stock traders acquired 15,090 put options on the stock. This represents an increase of approximately 264% compared to the typical volume of 4,143 put options.
Automatic Data Processing (NYSE:ADP) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $0.65 earnings per share for the quarter, missing the consensus estimate of $0.67 by $0.02. The firm had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Automatic Data Processing had a net margin of 17.24% and a return on equity of 59.56%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.69 EPS. Equities analysts expect that Automatic Data Processing will post $3.82 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Sunday, October 1st. Shareholders of record on Friday, September 8th will be issued a dividend of $0.57 per share. This represents a $2.28 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Thursday, September 7th.
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A number of research analysts have weighed in on ADP shares. Argus reduced their target price on Automatic Data Processing from $118.00 to $101.50 and set a “buy” rating for the company in a report on Wednesday, May 31st. Zacks Investment Research lowered Automatic Data Processing from a “hold” rating to a “sell” rating in a report on Tuesday, July 4th. Morgan Stanley lowered Automatic Data Processing from an “equal weight” rating to an “underweight” rating and lifted their target price for the company from $98.00 to $100.00 in a report on Thursday, August 3rd. Robert W. Baird reaffirmed a “neutral” rating and set a $95.00 target price on shares of Automatic Data Processing in a report on Sunday, July 30th. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $105.00 target price (up previously from $100.00) on shares of Automatic Data Processing in a report on Friday, July 28th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $104.96.
In other news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction that occurred on Wednesday, May 24th. The stock was sold at an average price of $100.01, for a total value of $4,939,693.92. Following the completion of the sale, the chief executive officer now directly owns 159,403 shares of the company’s stock, valued at approximately $15,941,894.03. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carlos A. Rodriguez sold 36,363 shares of the firm’s stock in a transaction that occurred on Thursday, July 27th. The shares were sold at an average price of $110.00, for a total value of $3,999,930.00. Following the completion of the sale, the chief executive officer now directly owns 146,494 shares of the company’s stock, valued at $16,114,340. The disclosure for this sale can be found here. Insiders have sold a total of 90,620 shares of company stock valued at $9,435,757 in the last 90 days.
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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