Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Flossbach Von Storch AG

Flossbach Von Storch AG lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,828 shares of the business services provider’s stock after selling 374 shares during the period. Flossbach Von Storch AG’s holdings in Automatic Data Processing were worth $10,910,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing in the third quarter valued at approximately $392,000. Americana Partners LLC grew its holdings in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares during the period. Everence Capital Management Inc. grew its holdings in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC grew its holdings in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock traded down $1.31 during midday trading on Wednesday, hitting $242.90. 1,126,134 shares of the company traded hands, compared to its average volume of 1,824,087. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $247.54 and a 200-day simple moving average of $239.18. The stock has a market capitalization of $99.78 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $254.58.

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.