Murphy Capital Management Inc. Lowers Stock Position in Automatic Data Processing (NASDAQ:ADP)

Murphy Capital Management Inc. cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,794 shares of the business services provider’s stock after selling 75 shares during the period. Murphy Capital Management Inc.’s holdings in Automatic Data Processing were worth $612,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Decatur Capital Management Inc. purchased a new position in shares of Automatic Data Processing during the third quarter worth approximately $5,784,000. Larson Financial Group LLC grew its position in shares of Automatic Data Processing by 640.9% during the third quarter. Larson Financial Group LLC now owns 489 shares of the business services provider’s stock worth $79,000 after acquiring an additional 423 shares during the last quarter. Buffington Mohr McNeal grew its position in shares of Automatic Data Processing by 11.6% during the third quarter. Buffington Mohr McNeal now owns 3,840 shares of the business services provider’s stock worth $620,000 after acquiring an additional 400 shares during the last quarter. Cypress Capital Group grew its position in Automatic Data Processing by 14.8% in the 3rd quarter. Cypress Capital Group now owns 16,408 shares of the business services provider’s stock valued at $2,649,000 after buying an additional 2,110 shares during the last quarter. Finally, Pacer Advisors Inc. grew its position in Automatic Data Processing by 10.0% in the 3rd quarter. Pacer Advisors Inc. now owns 75,453 shares of the business services provider’s stock valued at $12,180,000 after buying an additional 6,870 shares during the last quarter. Institutional investors and hedge funds own 80.30% of the company’s stock.

A number of research firms recently weighed in on ADP. JPMorgan Chase & Co. lifted 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 report on Thursday, August 1st. Cowen began coverage on shares of Automatic Data Processing in a research report on Wednesday, September 11th. They issued an “outperform” rating and a $195.00 price objective on the stock. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing to $176.00 and gave the company a “hold” rating in a research report on Wednesday, July 31st. ValuEngine lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Robert W. Baird lifted 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 report on Thursday, August 1st. Ten investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $175.67.

Automatic Data Processing stock opened at $162.52 on Friday. Automatic Data Processing has a one year low of $121.40 and a one year high of $174.50. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.05 and a current ratio of 1.05. The business has a fifty day moving average of $163.27 and a two-hundred day moving average of $163.50. The company has a market cap of $68.72 billion, a P/E ratio of 29.82, a price-to-earnings-growth ratio of 1.98 and a beta of 0.90.

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

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $0.79 dividend. This represents a $3.16 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date was Thursday, September 12th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 57.98%.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 49,392 shares of the firm’s stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $161.70, for a total value of $7,986,686.40. Following the completion of the sale, the chief executive officer now owns 132,338 shares of the company’s stock, valued at $21,399,054.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Brock Albinson sold 6,683 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $167.87, for a total value of $1,121,875.21. Following the completion of the sale, the vice president now directly owns 6,302 shares of the company’s stock, valued at approximately $1,057,916.74. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

Automatic Data Processing 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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