Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Searle & CO.

Searle & CO. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 14,996 shares of the business services provider’s stock after selling 1,200 shares during the quarter. Searle & CO.’s holdings in Automatic Data Processing were worth $3,494,000 as of its most recent filing with the SEC.

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

Insider Activity at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction 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 sale, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Up 2.2 %

ADP stock traded up $5.44 during midday trading on Wednesday, hitting $247.33. The stock had a trading volume of 2,738,808 shares, compared to its average volume of 1,799,275. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The firm has a market cap of $101.60 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company’s 50-day moving average price is $246.29 and its 200 day moving average price is $239.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Evercore ISI boosted their target price 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. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $258.36.

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.