Logan Capital Management Inc. Purchases 432 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Logan Capital Management Inc. raised its position in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 1.3% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,621 shares of the business services provider’s stock after buying an additional 432 shares during the quarter. Logan Capital Management Inc.’s holdings in Automatic Data Processing were worth $7,651,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Graham Capital Management L.P. bought a new stake in shares of Automatic Data Processing in the first quarter valued at $458,000. Lee Capital Holdings LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at $1,850,000. Clark Capital Management Group Inc. grew its position in shares of Automatic Data Processing by 0.9% in the first quarter. Clark Capital Management Group Inc. now owns 160,141 shares of the business services provider’s stock valued at $36,438,000 after purchasing an additional 1,424 shares in the last quarter. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 12.0% in the first quarter. Proficio Capital Partners LLC now owns 3,027 shares of the business services provider’s stock valued at $689,000 after purchasing an additional 325 shares in the last quarter. Finally, Centaurus Financial Inc. grew its position in shares of Automatic Data Processing by 4.7% in the first quarter. Centaurus Financial Inc. now owns 2,653 shares of the business services provider’s stock valued at $604,000 after purchasing an additional 119 shares in the last quarter. 79.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADP shares. Cowen lifted their price target on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Cowen lifted their price target on Automatic Data Processing from $225.00 to $230.00 in a research report on Thursday, July 28th. Wolfe Research reduced their price target on Automatic Data Processing from $235.00 to $210.00 in a research report on Wednesday, July 20th. Morgan Stanley boosted their target price on Automatic Data Processing from $235.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Thursday, July 28th. Finally, Mizuho boosted their target price on Automatic Data Processing from $250.00 to $257.00 and gave the stock a “buy” rating in a research report on Monday, August 1st. Nine investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $235.92.

Automatic Data Processing Price Performance

ADP opened at $244.30 on Friday. The stock has a 50-day moving average price of $237.15 and a 200-day moving average price of $224.02. Automatic Data Processing, Inc. has a 12-month low of $192.26 and a 12-month high of $261.59. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $101.51 billion, a P/E ratio of 34.85, a PEG ratio of 2.50 and a beta of 0.82.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings data on Wednesday, July 27th. The business services provider reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.48 by $0.02. Automatic Data Processing had a return on equity of 66.25% and a net margin of 17.87%. The firm had revenue of $4.13 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same period in the prior year, the business earned $1.20 EPS. The company’s revenue for the quarter was up 10.5% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing, Inc. will post 8.05 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 Saturday, October 1st. Stockholders of record on Friday, September 9th will be issued a $1.04 dividend. This represents a $4.16 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, September 8th. Automatic Data Processing’s payout ratio is currently 59.34%.

Insider Transactions at Automatic Data Processing

In other news, VP Donald Weinstein sold 10,150 shares of the business’s stock in a transaction dated Monday, August 8th. The stock was sold at an average price of $250.00, for a total value of $2,537,500.00. Following the completion of the sale, the vice president now owns 41,035 shares of the company’s stock, valued at approximately $10,258,750. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Christopher D’ambrosio sold 174 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $236.69, for a total value of $41,184.06. Following the completion of the sale, the vice president now owns 3,157 shares of the company’s stock, valued at approximately $747,230.33. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Donald Weinstein sold 10,150 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $250.00, for a total value of $2,537,500.00. Following the transaction, the vice president now directly owns 41,035 shares of the company’s stock, valued at approximately $10,258,750. The disclosure for this sale can be found here. In the last three months, insiders sold 69,755 shares of company stock worth $16,630,637. 0.34% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company Profile

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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.

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

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