Logan Capital Management Inc. Cuts Stake in Automatic Data Processing, Inc. (ADP)

Logan Capital Management Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,652 shares of the business services provider’s stock after selling 1,392 shares during the period. Logan Capital Management Inc.’s holdings in Automatic Data Processing were worth $374,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ADP. Northstar Wealth Partners LLC purchased a new stake in shares of Automatic Data Processing during the first quarter worth about $363,000. Mason Street Advisors LLC grew its stake in Automatic Data Processing by 0.5% during the 1st quarter. Mason Street Advisors LLC now owns 62,035 shares of the business services provider’s stock valued at $6,352,000 after acquiring an additional 317 shares in the last quarter. Pacer Advisors Inc. grew its stake in Automatic Data Processing by 4.2% during the 1st quarter. Pacer Advisors Inc. now owns 14,375 shares of the business services provider’s stock valued at $1,472,000 after acquiring an additional 573 shares in the last quarter. Covenant Multifamily Offices LLC purchased a new stake in Automatic Data Processing during the 1st quarter valued at about $3,141,000. Finally, Nordea Investment Management AB grew its stake in Automatic Data Processing by 5.3% during the 1st quarter. Nordea Investment Management AB now owns 45,663 shares of the business services provider’s stock valued at $4,675,000 after acquiring an additional 2,305 shares in the last quarter. 79.74% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing, Inc. (NASDAQ:ADP) opened at $111.06 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.51. The firm has a market cap of $49,254.00, a PE ratio of 29.70, a price-to-earnings-growth ratio of 2.84 and a beta of 0.87. Automatic Data Processing, Inc. has a fifty-two week low of $93.95 and a fifty-two week high of $121.77.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Thursday, November 2nd. The business services provider reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.85 by $0.06. The company had revenue of $3.08 billion for the quarter, compared to analyst estimates of $3.06 billion. Automatic Data Processing had a net margin of 14.08% and a return on equity of 42.34%. Automatic Data Processing’s revenue was up 5.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 EPS. equities research analysts predict that Automatic Data Processing, Inc. will post 3.91 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 1st. Stockholders of record on Friday, December 8th will be issued a $0.63 dividend. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $0.57. This represents a $2.52 annualized dividend and a dividend yield of 2.27%. The ex-dividend date is Thursday, December 7th. Automatic Data Processing’s dividend payout ratio is currently 58.02%.

In other news, VP Brock Albinson sold 3,663 shares of the company’s stock in a transaction that occurred on Friday, September 1st. The shares were sold at an average price of $106.54, for a total value of $390,256.02. Following the transaction, the vice president now directly owns 6,287 shares in the company, valued at approximately $669,816.98. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Maria Black sold 631 shares of the company’s stock in a transaction that occurred on Saturday, September 2nd. The stock was sold at an average price of $106.64, for a total transaction of $67,289.84. Following the completion of the transaction, the vice president now owns 10,550 shares in the company, valued at $1,125,052. The disclosure for this sale can be found here. Corporate insiders own 0.25% of the company’s stock.

Several analysts recently issued reports on the stock. Morgan Stanley reaffirmed an “equal weight” rating on shares of Automatic Data Processing in a research note on Wednesday. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $126.00 price objective for the company in a research note on Wednesday, November 8th. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, November 8th. Royal Bank Of Canada dropped their price objective on shares of Automatic Data Processing from $100.00 to $95.00 and set a “sector perform” rating for the company in a research note on Monday, November 6th. Finally, BMO Capital Markets dropped their price objective on shares of Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating for the company in a research note on Friday, November 3rd. Thirteen analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $112.37.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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

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