Hardman Johnston Global Advisors LLC Sells 30,930 Shares of Automatic Data Processing (NASDAQ:ADP)

Hardman Johnston Global Advisors LLC reduced its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 8.2% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 346,800 shares of the business services provider’s stock after selling 30,930 shares during the quarter. Automatic Data Processing comprises 2.5% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 9th biggest holding. Hardman Johnston Global Advisors LLC’s holdings in Automatic Data Processing were worth $57,336,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Enterprise Financial Services Corp lifted its stake in shares of 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 valued at $514,000 after buying an additional 64 shares during the period. Berman Capital Advisors LLC lifted its stake in shares of 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 valued at $443,000 after buying an additional 67 shares during the period. Ellevest Inc. lifted its stake in shares of Automatic Data Processing by 34.6% during the first quarter. Ellevest Inc. now owns 276 shares of the business services provider’s stock valued at $44,000 after buying an additional 71 shares during the period. CX Institutional lifted its stake in shares of Automatic Data Processing by 3.0% during the second quarter. CX Institutional now owns 2,472 shares of the business services provider’s stock valued at $409,000 after buying an additional 73 shares during the period. Finally, Nations Financial Group Inc. IA ADV lifted its stake in shares of Automatic Data Processing by 3.0% during the first quarter. Nations Financial Group Inc. IA ADV now owns 2,719 shares of the business services provider’s stock valued at $434,000 after buying an additional 78 shares during the period. Institutional investors own 79.96% of the company’s stock.

In other Automatic Data Processing news, VP Dermot J. O’brien sold 1,771 shares of the stock in a transaction that occurred on Wednesday, July 3rd. The shares were sold at an average price of $162.04, for a total transaction of $286,972.84. Following the transaction, the vice president now owns 14,896 shares of the company’s stock, valued at $2,413,747.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.33% of the company’s stock.



NASDAQ:ADP traded up $0.15 during trading hours on Tuesday, reaching $169.11. 18,574 shares of the company were exchanged, compared to its average volume of 2,131,209. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.05 and a quick ratio of 1.05. The firm has a market cap of $72.48 billion, a price-to-earnings ratio of 31.02, a PEG ratio of 2.09 and a beta of 0.91. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $172.00. The stock has a 50 day simple moving average of $165.96 and a 200 day simple moving average of $160.11.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $1.14 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.13 by $0.01. The company had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.50 billion. Automatic Data Processing had a net margin of 16.17% and a return on equity of 47.48%. Automatic Data Processing’s revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.99 earnings per share. On average, analysts predict that Automatic Data Processing will post 6.16 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date of this dividend is Thursday, September 12th. Automatic Data Processing’s dividend payout ratio is currently 57.98%.

Several equities analysts recently issued reports on the stock. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research note on Wednesday, July 31st. ValuEngine downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, August 1st. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $179.00 price objective on the stock in a research note on Friday, June 21st. JPMorgan Chase & Co. upped their price objective on shares of Automatic Data Processing from $170.00 to $177.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Finally, Robert W. Baird upped their price objective on shares of Automatic Data Processing from $167.00 to $178.00 and gave the company a “neutral” rating in a research note on Thursday, August 1st. Eight analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $174.10.

Automatic Data Processing Company 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.

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

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