NTV Asset Management LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

NTV Asset Management LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,968 shares of the business services provider’s stock after selling 166 shares during the quarter. NTV Asset Management LLC’s holdings in Automatic Data Processing were worth $1,623,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth about $25,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $35,000. Evolution Advisers Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $41,000. Raleigh Capital Management Inc. boosted its position in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the period. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on ADP shares. Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday. Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, TD Cowen decreased their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.42.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. In the last three months, insiders sold 3,829 shares of company stock valued at $965,274. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

Shares of ADP stock traded down $0.14 during mid-day trading on Friday, hitting $241.89. 1,491,532 shares of the company’s stock were exchanged, compared to its average volume of 1,451,137. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The stock has a 50-day simple moving average of $245.63 and a two-hundred day simple moving average of $239.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a market cap of $99.37 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter last year, the firm earned $2.52 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. Automatic Data Processing’s payout ratio is currently 62.50%.

About Automatic Data Processing

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.