Dillon & Associates Inc. Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Dillon & Associates Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% during the 4th quarter, HoldingsChannel reports. The fund owned 68,604 shares of the business services provider’s stock after selling 2,994 shares during the quarter. Automatic Data Processing comprises about 2.9% of Dillon & Associates Inc.’s portfolio, making the stock its 9th largest holding. Dillon & Associates Inc.’s holdings in Automatic Data Processing were worth $15,985,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. OFI Invest Asset Management bought a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $35,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. increased its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $2.27 on Friday, reaching $252.33. The stock had a trading volume of 1,291,521 shares, compared to its average volume of 1,377,850. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a fifty day moving average of $245.37 and a two-hundred day 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. The company has a market cap of $103.28 billion, a P/E ratio of 28.16, a price-to-earnings-growth ratio of 2.38 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same period in the prior year, the firm posted $2.52 EPS. The company’s revenue for the quarter was up 7.6% on a year-over-year basis. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.16 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.22%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 62.50%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the company’s 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 transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, VP Sreenivasa Kutam sold 694 shares of the company’s 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 sale, the vice president now directly owns 20,687 shares in the company, valued at approximately $5,159,958.41. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the company’s 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 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. Insiders have sold a total of 2,966 shares of company stock valued at $749,524 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Barclays boosted their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research report on Thursday, May 2nd. Mizuho boosted 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. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, 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 report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $255.42.

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.