Ifrah Financial Services Inc. Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Ifrah Financial Services Inc. cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,361 shares of the business services provider’s stock after selling 123 shares during the quarter. Ifrah Financial Services Inc.’s holdings in Automatic Data Processing were worth $317,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of ADP. International Assets Investment Management LLC raised its stake in shares of Automatic Data Processing by 22,539.4% during the fourth quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after acquiring an additional 930,199 shares during the last quarter. Invesco Ltd. raised its position in Automatic Data Processing by 40.7% during the 3rd quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares during the last quarter. Envestnet Asset Management Inc. grew its position in shares of Automatic Data Processing by 65.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock worth $337,416,000 after buying an additional 555,184 shares during the last quarter. Ameriprise Financial Inc. grew its position in shares of Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after buying an additional 553,946 shares during the last quarter. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $107,401,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.1 %

NASDAQ ADP traded down $0.14 during mid-day trading on Friday, reaching $241.89. The stock had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The company has a fifty day moving average price of $245.63 and a 200 day moving average price of $239.08. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The stock has a market cap of $99.37 billion, a PE ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The firm 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% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.52 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders 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 yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of research analyst reports. Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Barclays raised their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday. TD Cowen decreased their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. 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. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $255.42.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 694 shares of the business’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 transaction of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock valued at $965,274 in the last 90 days. 0.26% of the stock is currently owned by insiders.

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.