Automatic Data Processing (ADP) Shares Sold by Boston Private Wealth LLC

Boston Private Wealth LLC decreased its position in Automatic Data Processing (NASDAQ:ADP) by 1.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 210,778 shares of the business services provider’s stock after selling 4,017 shares during the period. Boston Private Wealth LLC’s holdings in Automatic Data Processing were worth $23,042,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Acrospire Investment Management LLC acquired a new position in Automatic Data Processing in the 2nd quarter worth $102,000. Proficio Capital Partners LLC boosted its stake in Automatic Data Processing by 1.8% in the 2nd quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock worth $111,000 after purchasing an additional 17 shares during the period. Grove Bank & Trust boosted its stake in Automatic Data Processing by 16.4% in the 2nd quarter. Grove Bank & Trust now owns 1,208 shares of the business services provider’s stock worth $124,000 after purchasing an additional 170 shares during the period. Armbruster Capital Management Inc. boosted its stake in Automatic Data Processing by 2.5% in the 2nd quarter. Armbruster Capital Management Inc. now owns 1,322 shares of the business services provider’s stock worth $135,000 after purchasing an additional 32 shares during the period. Finally, San Francisco Sentry Investment Group CA acquired a new position in Automatic Data Processing in the 2nd quarter worth $136,000. 78.67% of the stock is owned by institutional investors.

Shares of Automatic Data Processing (ADP) opened at $117.26 on Thursday. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.10 and a current ratio of 1.10. Automatic Data Processing has a 52-week low of $94.11 and a 52-week high of $121.77. The company has a market cap of $51,835.07, a PE ratio of 29.84, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to analysts’ expectations of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. Automatic Data Processing’s quarterly revenue was up 5.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.86 EPS. sell-side analysts anticipate that Automatic Data Processing will post 3.91 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.15%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is presently 64.12%.

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “hold” rating and issued a $95.00 target price on shares of Automatic Data Processing in a research note on Friday, September 15th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, November 8th. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price target on the stock in a research report on Wednesday, November 8th. Bank of America raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating in a research report on Tuesday, December 5th. Finally, Stifel Nicolaus reissued a “hold” rating and set a $108.00 price target on shares of Automatic Data Processing in a research report on Wednesday, October 4th. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $114.14.

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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.

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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