Tower Bridge Advisors trimmed its stake in Automatic Data Processing (NASDAQ:ADP) by 60.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 25,865 shares of the business services provider’s stock after selling 39,020 shares during the period. Tower Bridge Advisors’ holdings in Automatic Data Processing were worth $2,828,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ADP. Guardian Life Insurance Co. of America grew its holdings in shares of Automatic Data Processing by 0.7% in the first quarter. Guardian Life Insurance Co. of America now owns 1,740 shares of the business services provider’s stock valued at $178,000 after purchasing an additional 12 shares in the last quarter. Personal Capital Advisors Corp grew its holdings in shares of Automatic Data Processing by 0.7% in the second quarter. Personal Capital Advisors Corp now owns 2,371 shares of the business services provider’s stock valued at $243,000 after purchasing an additional 16 shares in the last quarter. Flagship Harbor Advisors LLC grew its holdings in shares of Automatic Data Processing by 0.6% in the first quarter. Flagship Harbor Advisors LLC now owns 2,778 shares of the business services provider’s stock valued at $282,000 after purchasing an additional 16 shares in the last quarter. Proficio Capital Partners LLC grew its holdings in shares of Automatic Data Processing by 1.8% in the second quarter. Proficio Capital Partners LLC now owns 964 shares of the business services provider’s stock valued at $111,000 after purchasing an additional 17 shares in the last quarter. Finally, Northwest Quadrant Wealth Management LLC grew its holdings in shares of Automatic Data Processing by 0.5% in the second quarter. Northwest Quadrant Wealth Management LLC now owns 4,221 shares of the business services provider’s stock valued at $458,000 after purchasing an additional 21 shares in the last quarter. 78.78% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing (NASDAQ ADP) opened at $116.46 on Friday. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 0.51. Automatic Data Processing has a twelve month low of $94.11 and a twelve month high of $121.77. The company has a market cap of $51,897.16, a P/E ratio of 31.29, a price-to-earnings-growth ratio of 2.90 and a beta of 0.85.

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

The business also recently announced 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 boost from Automatic Data Processing’s previous quarterly dividend of $0.57. The ex-dividend date of this dividend is Thursday, December 7th. This represents a $2.52 annualized dividend and a dividend yield of 2.16%. Automatic Data Processing’s dividend payout ratio is presently 64.12%.

ADP has been the subject of a number of research reports. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Friday, September 15th. Morgan Stanley upgraded shares of Automatic Data Processing from an “underweight” rating to an “equal” rating and set a $114.00 price objective for the company in a report on Tuesday, November 14th. Sanford C. Bernstein boosted their price target on shares of Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Deutsche Bank reiterated a “hold” rating and set a $102.00 price target on shares of Automatic Data Processing in a report on Monday, August 21st. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Eleven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $114.17.

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Automatic Data Processing Profile

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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