Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Moreno Evelyn V

Moreno Evelyn V cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,045 shares of the business services provider’s stock after selling 777 shares during the quarter. Moreno Evelyn V’s holdings in Automatic Data Processing were worth $1,175,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Financial Advisors Network Inc. boosted its holdings in Automatic Data Processing by 6.0% in the fourth quarter. Financial Advisors Network Inc. now owns 15,142 shares of the business services provider’s stock valued at $3,528,000 after purchasing an additional 851 shares in the last quarter. Central Valley Advisors LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $553,000. InterOcean Capital Group LLC boosted its holdings in Automatic Data Processing by 5.6% in the fourth quarter. InterOcean Capital Group LLC now owns 3,934 shares of the business services provider’s stock valued at $916,000 after purchasing an additional 207 shares in the last quarter. EverSource Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 4.1% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,598 shares of the business services provider’s stock valued at $372,000 after purchasing an additional 63 shares in the last quarter. Finally, Cassaday & Co Wealth Management LLC boosted its holdings in Automatic Data Processing by 23.8% in the fourth quarter. Cassaday & Co Wealth Management LLC now owns 1,125 shares of the business services provider’s stock valued at $262,000 after purchasing an additional 216 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $1.73 during trading hours on Thursday, hitting $252.29. 356,118 shares of the company were exchanged, compared to its average volume of 1,685,895. The business has a 50-day moving average of $245.87 and a 200-day moving average of $240.91. 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 capitalization of $103.26 billion, a price-to-earnings ratio of 28.14, a P/E/G ratio of 2.77 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping 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 quarter in the prior year, the company posted $2.52 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. Barclays boosted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $255.42.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company 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.