O Brien Greene & Co. Inc Sells 250 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

O Brien Greene & Co. Inc cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 16,960 shares of the business services provider’s stock after selling 250 shares during the period. O Brien Greene & Co. Inc’s holdings in Automatic Data Processing were worth $3,951,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of ADP. Heritage Investment Group Inc. increased its stake in shares of Automatic Data Processing by 1.9% in the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after purchasing an additional 41 shares in the last quarter. Argus Investors Counsel Inc. increased its stake in Automatic Data Processing by 0.5% in the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after buying an additional 43 shares in the last quarter. Trust Co. of Toledo NA OH increased its stake in Automatic Data Processing by 0.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock worth $1,995,000 after buying an additional 45 shares in the last quarter. Schechter Investment Advisors LLC increased its stake in Automatic Data Processing by 1.1% in the 3rd quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after buying an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Automatic Data Processing by 1.0% in 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 in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ADP. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $254.58.

Insider Activity

In other news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction on Friday, March 1st. The shares were 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 $5,159,958.41. The transaction 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 Automatic Data Processing stock in a transaction on Friday, March 1st. The shares were 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 $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now 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 sold 15,162 shares of company stock valued at $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 1.3 %

Shares of NASDAQ ADP opened at $243.07 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.85 billion, a P/E ratio of 28.30, a PEG ratio of 2.31 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The firm has a 50-day simple moving average of $246.70 and a two-hundred day simple moving average of $239.26.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. Research analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

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.