Bluestein R H & Co. Reduces Stock Holdings in Automatic Data Processing (NASDAQ:ADP)

Bluestein R H & Co. trimmed its position in shares of Automatic Data Processing (NASDAQ:ADP) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,825 shares of the business services provider’s stock after selling 450 shares during the quarter. Bluestein R H & Co.’s holdings in Automatic Data Processing were worth $292,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Enterprise Financial Services Corp increased its stake in Automatic Data Processing by 2.0% during the first quarter. Enterprise Financial Services Corp now owns 3,215 shares of the business services provider’s stock worth $514,000 after purchasing an additional 64 shares during the period. Bank of The West increased its stake in Automatic Data Processing by 1.4% during the first quarter. Bank of The West now owns 4,649 shares of the business services provider’s stock worth $743,000 after purchasing an additional 66 shares during the period. BTR Capital Management Inc. increased its stake in Automatic Data Processing by 1.3% during the first quarter. BTR Capital Management Inc. now owns 5,252 shares of the business services provider’s stock worth $839,000 after purchasing an additional 67 shares during the period. Berman Capital Advisors LLC increased its stake in Automatic Data Processing by 2.5% during the first quarter. Berman Capital Advisors LLC now owns 2,780 shares of the business services provider’s stock worth $443,000 after purchasing an additional 67 shares during the period. Finally, PagnatoKarp Partners LLC increased its stake in Automatic Data Processing by 2.5% during the fourth quarter. PagnatoKarp Partners LLC now owns 2,879 shares of the business services provider’s stock worth $380,000 after purchasing an additional 70 shares during the period. 79.71% of the stock is owned by hedge funds and other institutional investors.

ADP has been the topic of a number of recent research reports. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 target price on the stock in a research note on Thursday, May 9th. Sanford C. Bernstein lowered shares of Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Citigroup upped their target price on shares of Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Finally, Barclays upped their target price on shares of Automatic Data Processing from $168.00 to $180.00 and gave the stock an “overweight” rating in a research note on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Automatic Data Processing has a consensus rating of “Buy” and a consensus target price of $167.00.

ADP traded up $1.06 on Monday, reaching $166.39. The company’s stock had a trading volume of 1,623,600 shares, compared to its average volume of 1,848,303. The company has a market capitalization of $71.96 billion, a P/E ratio of 38.25, a price-to-earnings-growth ratio of 2.34 and a beta of 0.90. Automatic Data Processing has a fifty-two week low of $121.40 and a fifty-two week high of $170.45. The business has a 50 day simple moving average of $163.70. The company has a quick ratio of 1.04, a current ratio of 1.04 and a debt-to-equity ratio of 0.38.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $1.77 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.69 by $0.08. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The company’s revenue was up 4.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.57 earnings per share. On average, research analysts forecast that Automatic Data Processing will post 5.44 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $0.79 per share. This represents a $3.16 annualized dividend and a dividend yield of 1.90%. The ex-dividend date is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.

In other news, VP Donald Weinstein sold 1,706 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.01, for a total transaction of $281,507.06. Following the completion of the sale, the vice president now owns 26,220 shares in the company, valued at $4,326,562.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jan Siegmund sold 27,272 shares of the company’s stock in a transaction that occurred on Tuesday, April 23rd. The stock was sold at an average price of $165.00, for a total value of $4,499,880.00. Following the sale, the insider now owns 77,595 shares of the company’s stock, valued at approximately $12,803,175. The disclosure for this sale can be found here. 0.33% of the stock is owned by corporate insiders.

Automatic Data Processing Profile

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: Diluted Earnings Per Share

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

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