Securian Asset Management Inc. Sells 3,475 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Securian Asset Management Inc. decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 11.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,090 shares of the business services provider’s stock after selling 3,475 shares during the period. Securian Asset Management Inc.’s holdings in Automatic Data Processing were worth $6,078,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Heritage Investment Group Inc. raised its stake in Automatic Data Processing by 1.9% in the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares in the last quarter. Bedel Financial Consulting Inc. lifted its stake in Automatic Data Processing by 0.8% during the fourth quarter. Bedel Financial Consulting Inc. now owns 5,254 shares of the business services provider’s stock worth $1,224,000 after purchasing an additional 42 shares during the last quarter. Argus Investors Counsel Inc. boosted its holdings in Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after purchasing an additional 43 shares in the last quarter. Schechter Investment Advisors LLC increased its stake in Automatic Data Processing by 1.1% in the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock valued at $999,000 after purchasing an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC raised its holdings in Automatic Data Processing by 1.0% during the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after purchasing an additional 47 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $2.27 during mid-day trading on Friday, hitting $252.33. 1,291,521 shares of the company were exchanged, compared to its average volume of 1,377,850. 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 firm has a market cap of $103.28 billion, a price-to-earnings ratio of 28.16, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78. The stock has a 50 day simple moving average of $245.37 and a 200-day simple moving average of $239.99. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate 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 quarterly revenue was up 7.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.52 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.16 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.22%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Activity

In other news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the transaction, the vice president now owns 20,687 shares in the company, valued at approximately $5,159,958.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the business’s 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 sale, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold 2,966 shares of company stock valued at $749,524 in the last three months. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ADP has been the subject of several research analyst reports. Barclays upped their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Evercore ISI upped their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $255.42.

View Our Latest Stock Analysis on ADP

About Automatic Data Processing

(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.

See Also

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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