Hyman Charles D Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hyman Charles D lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Heritage Investment Group Inc. boosted its stake in shares of Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after acquiring an additional 41 shares in the last quarter. Argus Investors Counsel Inc. grew 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 during the period. Schechter Investment Advisors LLC increased its position in shares of 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 buying an additional 46 shares in the last quarter. Simon Quick Advisors LLC raised its stake in shares of Automatic Data Processing by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after buying an additional 47 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Automatic Data Processing by 0.7% during the 3rd quarter. Allworth Financial LP now owns 6,886 shares of the business services provider’s stock valued at $1,657,000 after buying an additional 48 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other 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 value of $173,104.42. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at this link. In other news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,966 shares of company stock valued at $749,524. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several recent analyst reports. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. decreased their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research note on Thursday, May 2nd. Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday, May 2nd. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Trading Up 1.0 %

Automatic Data Processing stock traded up $2.38 during mid-day trading on Tuesday, hitting $245.12. The company’s stock had a trading volume of 1,202,179 shares, compared to its average volume of 1,781,435. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. 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. The stock’s fifty day moving average is $245.29 and its two-hundred day moving average is $238.95.

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

Automatic Data Processing Announces Dividend

The business also recently declared 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. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Automatic Data Processing 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.