Bryn Mawr Capital Management LLC Has $1.07 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bryn Mawr Capital Management LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.6% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,374 shares of the business services provider’s stock after selling 318 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Automatic Data Processing were worth $1,074,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foundations Investment Advisors LLC raised its holdings in Automatic Data Processing by 2.9% in the 3rd quarter. Foundations Investment Advisors LLC now owns 4,529 shares of the business services provider’s stock worth $1,253,000 after acquiring an additional 126 shares during the period. Sequoia Financial Advisors LLC grew its position in shares of Automatic Data Processing by 11.5% in the third quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the business services provider’s stock valued at $2,473,000 after purchasing an additional 922 shares during the last quarter. Elevated Capital Advisors LLC bought a new position in shares of Automatic Data Processing in the third quarter worth about $208,000. Monte Financial Group LLC lifted its position in shares of Automatic Data Processing by 1.1% during the 3rd quarter. Monte Financial Group LLC now owns 16,634 shares of the business services provider’s stock worth $4,603,000 after purchasing an additional 173 shares during the last quarter. Finally, McAdam LLC boosted its stake in Automatic Data Processing by 6.7% during the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock valued at $496,000 after purchasing an additional 112 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $311.97 on Friday. The stock’s fifty day simple moving average is $298.44 and its 200 day simple moving average is $289.74. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $313.72. The firm has a market cap of $127.12 billion, a price-to-earnings ratio of 32.53, a P/E/G ratio of 3.61 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ADP. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

About Automatic Data Processing

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.