Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Tufton Capital Management

Tufton Capital Management cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 56,612 shares of the business services provider’s stock after selling 1,860 shares during the quarter. Automatic Data Processing makes up about 2.8% of Tufton Capital Management’s portfolio, making the stock its 5th largest holding. Tufton Capital Management’s holdings in Automatic Data Processing were worth $13,189,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $392,000. Americana Partners LLC grew its holdings in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after purchasing an additional 660 shares during the period. Everence Capital Management Inc. grew its holdings in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth $1,635,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Up 0.0 %

Shares of ADP traded up $0.03 during trading hours on Thursday, reaching $242.93. 204,584 shares of the stock traded hands, compared to its average volume of 1,802,152. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a fifty day simple moving average of $247.54 and a 200 day simple moving average of $239.18. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84. The company has a market cap of $99.79 billion, a price-to-earnings ratio of 28.28, a PEG ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the firm earned $1.96 earnings per share. The firm’s revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI raised their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Mizuho raised their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $254.58.

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.