Automatic Data Processing (ADP) Shares Sold by Winslow Capital Management LLC

Winslow Capital Management LLC lowered its position in Automatic Data Processing (NASDAQ:ADP) by 2.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,008,715 shares of the business services provider’s stock after selling 42,852 shares during the quarter. Automatic Data Processing accounts for 1.5% of Winslow Capital Management LLC’s investment portfolio, making the stock its 29th biggest position. Winslow Capital Management LLC owned 0.46% of Automatic Data Processing worth $302,633,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of the stock. Fox Run Management L.L.C. bought a new position in Automatic Data Processing in the 2nd quarter worth about $232,000. Cornerstone Wealth Management LLC bought a new position in Automatic Data Processing in the 2nd quarter worth about $982,000. Acadian Asset Management LLC bought a new position in Automatic Data Processing in the 2nd quarter worth about $582,000. Bessemer Group Inc. boosted its stake in Automatic Data Processing by 1.9% in the 2nd quarter. Bessemer Group Inc. now owns 1,817,159 shares of the business services provider’s stock worth $243,752,000 after purchasing an additional 34,105 shares in the last quarter. Finally, Spearhead Capital Advisors LLC bought a new position in Automatic Data Processing in the 2nd quarter worth about $6,288,000. Hedge funds and other institutional investors own 79.88% of the company’s stock.

A number of equities analysts have weighed in on ADP shares. Jefferies Financial Group started coverage on Automatic Data Processing in a research report on Monday, October 1st. They issued a “hold” rating and a $160.00 target price for the company. Barclays started coverage on Automatic Data Processing in a research report on Wednesday, November 14th. They issued an “overweight” rating and a $168.00 target price for the company. Zacks Investment Research reissued a “hold” rating on shares of Automatic Data Processing in a research report on Monday, November 12th. Guggenheim started coverage on Automatic Data Processing in a research report on Monday, August 20th. They issued a “buy” rating and a $175.00 target price for the company. Finally, Moffett Nathanson started coverage on Automatic Data Processing in a research report on Thursday, October 4th. They issued a “buy” rating and a $180.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $151.19.

Shares of NASDAQ ADP traded up $0.43 during midday trading on Friday, hitting $141.51. 84,443 shares of the company’s stock traded hands, compared to its average volume of 2,550,824. Automatic Data Processing has a 1 year low of $107.61 and a 1 year high of $153.51. The firm has a market capitalization of $61.76 billion, a P/E ratio of 32.53, a PEG ratio of 2.15 and a beta of 0.91. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.43.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 31st. The business services provider reported $1.20 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.09. Automatic Data Processing had a net margin of 12.71% and a return on equity of 50.96%. The firm had revenue of $3.32 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the firm earned $0.94 EPS. The business’s revenue for the quarter was up 8.0% compared to the same quarter last year. As a group, equities research analysts anticipate that Automatic Data Processing will post 5.26 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 1st. Stockholders of record on Friday, December 14th will be given a dividend of $0.79 per share. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $3.16 annualized dividend and a dividend yield of 2.23%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.69. Automatic Data Processing’s dividend payout ratio is presently 63.45%.

In other news, VP Michael C. Eberhard sold 9,100 shares of the company’s stock in a transaction dated Friday, September 21st. The shares were sold at an average price of $150.00, for a total transaction of $1,365,000.00. Following the completion of the sale, the vice president now owns 48,468 shares of the company’s stock, valued at approximately $7,270,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brock Albinson sold 3,345 shares of the company’s stock in a transaction dated Tuesday, September 4th. The shares were sold at an average price of $144.35, for a total transaction of $482,850.75. Following the sale, the vice president now directly owns 6,081 shares of the company’s stock, valued at approximately $877,792.35. The disclosure for this sale can be found here. Insiders have sold a total of 179,767 shares of company stock valued at $26,396,593 in the last ninety days. Insiders own 0.33% of the company’s stock.

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About Automatic Data Processing

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.

Further Reading: Systematic Risk and Investors

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

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