Automatic Data Processing (ADP) is Ramsay Stattman Vela & Price Inc.’s 10th Largest Position

Ramsay Stattman Vela & Price Inc. trimmed its position in Automatic Data Processing (NASDAQ:ADP) by 0.4% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,245 shares of the business services provider’s stock after selling 195 shares during the period. Automatic Data Processing makes up about 3.2% of Ramsay Stattman Vela & Price Inc.’s holdings, making the stock its 10th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in Automatic Data Processing were worth $8,665,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Oregon Public Employees Retirement Fund lifted its holdings in Automatic Data Processing by 18,918.6% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 23,462,482 shares of the business services provider’s stock valued at $179,000 after acquiring an additional 23,339,116 shares during the period. Lunia Capital LP lifted its holdings in Automatic Data Processing by 14,251.9% in the fourth quarter. Lunia Capital LP now owns 18,367,683 shares of the business services provider’s stock valued at $18,368,000 after acquiring an additional 18,239,702 shares during the period. Norges Bank acquired a new stake in Automatic Data Processing in the fourth quarter valued at $522,489,000. Ronna Sue Cohen lifted its holdings in Automatic Data Processing by 15,564.1% in the first quarter. Ronna Sue Cohen now owns 3,468,349 shares of the business services provider’s stock valued at $3,468,000 after acquiring an additional 3,446,207 shares during the period. Finally, BlackRock Inc. lifted its holdings in Automatic Data Processing by 5.4% in the fourth quarter. BlackRock Inc. now owns 30,996,337 shares of the business services provider’s stock valued at $4,064,239,000 after acquiring an additional 1,587,214 shares during the period. Hedge funds and other institutional investors own 80.41% of the company’s stock.

In related news, insider Jan Siegmund sold 27,272 shares of the business’s stock in a transaction dated Tuesday, April 23rd. The shares were sold at an average price of $165.00, for a total value of $4,499,880.00. Following the completion of the transaction, the insider now owns 77,595 shares of the company’s stock, valued at approximately $12,803,175. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Stuart Sackman sold 1,478 shares of the business’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $155.13, for a total transaction of $229,282.14. Following the completion of the transaction, the vice president now directly owns 24,122 shares of the company’s stock, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. Insiders sold a total of 30,456 shares of company stock valued at $5,010,669 in the last three months. 0.33% of the stock is currently owned by corporate insiders.

A number of equities research analysts have commented on the company. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $178.00 target price for the company in a report on Thursday, May 9th. BidaskClub downgraded Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a report on Friday, April 5th. Barclays raised their target price on Automatic Data Processing from $168.00 to $180.00 and gave the company an “overweight” rating in a report on Monday, May 6th. Sanford C. Bernstein downgraded Automatic Data Processing from an “outperform” rating to a “market perform” rating in a research note on Tuesday, April 30th. Finally, Citigroup lifted their price target on Automatic Data Processing from $147.00 to $162.00 and gave the stock a “neutral” rating in a research note on Thursday, May 2nd. Nine investment analysts have rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $159.00.

NASDAQ:ADP opened at $163.37 on Thursday. The firm has a market cap of $70.94 billion, a PE ratio of 37.56, a PEG ratio of 2.31 and a beta of 0.95. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.04 and a quick ratio of 1.04. Automatic Data Processing has a 52-week low of $121.40 and a 52-week high of $165.50.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.69 by $0.08. Automatic Data Processing had a return on equity of 50.53% and a net margin of 13.76%. The business had revenue of $3.85 billion during the quarter, compared to the consensus estimate of $3.91 billion. During the same quarter in the previous year, the company posted $1.57 EPS. The business’s revenue was up 4.2% on a year-over-year basis. On average, analysts expect that Automatic Data Processing will post 5.44 EPS for the current fiscal year.

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 paid a $0.79 dividend. This represents a $3.16 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s payout ratio is 72.64%.

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About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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

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