Bridgeway Capital Management LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)
Bridgeway Capital Management LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 41.3% in Q4, now owning 11,640 shares valued at $3.4 million. Other institutional investors also adjusted their stakes. Insider selling included VP Christopher D'ambrosio and VP Brian L. Michaud. Analysts have mixed ratings on ADP, with a consensus rating of "Hold" and a target price of $303.55. ADP shares opened at $307.09, with a market cap of $124.65 billion and a P/E ratio of 32.02.
Bridgeway Capital Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 41.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,640 shares of the business services provider's stock after selling 8,200 shares during the quarter. Bridgeway Capital Management LLC's holdings in Automatic Data Processing were worth $3,407,000 at the end of the most recent quarter.
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Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Cyrus J. Lawrence LLC raised its stake in Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the 4th quarter worth $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth $41,000. 80.03% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In other news, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This trade represents a 6.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 2,451 shares of company stock valued at $743,024. Insiders own 0.21% of the company's stock.
Analyst Ratings Changes
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A number of research firms have recently weighed in on ADP. TD Securities upped their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, Barclays boosted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $303.55.
Check Out Our Latest Report on ADP
Automatic Data Processing Price Performance
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Shares of Automatic Data Processing stock opened at $307.09 on Friday. The stock has a market cap of $124.65 billion, a price-to-earnings ratio of 32.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock has a 50 day moving average price of $297.45 and a 200-day moving average price of $299.06. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's revenue for the quarter was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.88 earnings per share. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Automatic Data Processing Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing's payout ratio is 63.05%.
Automatic Data Processing Company Profile
(Free Report)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.
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