Hyman Charles D Sells 110 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hyman Charles D decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,136 shares of the business services provider’s stock after selling 110 shares during the quarter. Hyman Charles D’s holdings in Automatic Data Processing were worth $4,458,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of ADP. International Assets Investment Management LLC raised its holdings in Automatic Data Processing by 22,539.4% during the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock worth $217,670,000 after acquiring an additional 930,199 shares in the last quarter. Invesco Ltd. boosted its holdings in shares of Automatic Data Processing by 40.7% in the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after buying an additional 905,043 shares during the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Automatic Data Processing by 65.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock valued at $337,416,000 after buying an additional 555,184 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Automatic Data Processing by 18.3% in the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after buying an additional 553,946 shares in the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC acquired a new position in Automatic Data Processing during the third quarter worth $107,401,000. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. Barclays lifted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday, May 2nd. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. TD Cowen dropped their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday, May 2nd. Finally, Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $2.38 during mid-day trading on Tuesday, reaching $245.12. 1,202,179 shares of the company’s stock were exchanged, compared to its average volume of 1,781,435. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The business’s fifty day simple moving average is $245.29 and its two-hundred day simple moving average is $238.95. The firm has a market capitalization of $100.33 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Insider Buying and Selling

In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was 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 $5,018,996.19. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,966 shares of company stock worth $749,524. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Company Profile

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.