Bryn Mawr Capital Management LLC Has $798,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bryn Mawr Capital Management LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 67.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 3,425 shares of the business services provider’s stock after selling 7,039 shares during the period. Bryn Mawr Capital Management LLC’s holdings in Automatic Data Processing were worth $798,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Automatic Data Processing during the 3rd quarter valued at about $25,000. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. lifted its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Evercore ISI lifted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $254.58.

Automatic Data Processing Trading Down 1.3 %

Shares of ADP stock opened at $243.07 on Friday. The company’s fifty day simple moving average is $246.70 and its two-hundred day simple moving average is $239.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The stock has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.96 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 over the last three months. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

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.