Bridges Investment Management Inc. reduced its stake in Automatic Data Processing (NASDAQ:ADP) by 8.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,924 shares of the business services provider’s stock after selling 897 shares during the period. Bridges Investment Management Inc.’s holdings in Automatic Data Processing were worth $1,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Sugarloaf Wealth Management LLC bought a new position in Automatic Data Processing during the 4th quarter worth $27,000. Raab & Moskowitz Asset Management LLC bought a new position in shares of Automatic Data Processing in the 4th quarter worth about $28,000. Cranbrook Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 361.1% in the 4th quarter. Cranbrook Wealth Management LLC now owns 166 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 130 shares during the period. Pacitti Group Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth approximately $32,000. Finally, West Bancorporation Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $33,000. Institutional investors own 80.30% of the company’s stock.

In related news, VP Donald Weinstein sold 2,468 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $180.00, for a total value of $444,240.00. Following the completion of the transaction, the vice president now directly owns 26,578 shares of the company’s stock, valued at $4,784,040. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Don Mcguire sold 326 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $172.07, for a total transaction of $56,094.82. Following the completion of the transaction, the vice president now directly owns 6,916 shares of the company’s stock, valued at $1,190,036.12. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 14,528 shares of company stock worth $2,556,051. 0.31% of the stock is owned by insiders.

ADP has been the topic of a number of research analyst reports. Morgan Stanley cut their price target on Automatic Data Processing from $145.00 to $137.00 and set an “equal weight” rating on the stock in a report on Tuesday. Credit Suisse Group reaffirmed a “buy” rating and set a $190.00 target price on shares of Automatic Data Processing in a research report on Sunday, February 2nd. Citigroup upped their target price on Automatic Data Processing from $170.00 to $185.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Evercore ISI raised Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 target price on the stock in a research report on Wednesday, January 22nd. Finally, Moffett Nathanson lowered Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 7th. Eleven research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $181.90.

ADP stock opened at $122.59 on Thursday. The stock has a market cap of $52.22 billion, a P/E ratio of 21.66, a P/E/G ratio of 1.66 and a beta of 0.89. The stock’s fifty day simple moving average is $158.22 and its two-hundred day simple moving average is $164.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. Automatic Data Processing has a 1-year low of $103.11 and a 1-year high of $182.32.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.44 by $0.08. The firm had revenue of $3.67 billion for the quarter, compared to analyst estimates of $3.69 billion. Automatic Data Processing had a return on equity of 46.96% and a net margin of 16.97%. The business’s revenue was up 5.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 earnings per share. As a group, analysts forecast that Automatic Data Processing will post 6.07 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 2.97%. The ex-dividend date of this dividend is Thursday, March 12th. Automatic Data Processing’s dividend payout ratio is currently 66.79%.

About Automatic Data Processing

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

Read More: Most Active Stocks: Dollar Volume vs Share Volume

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.