Ocean Capital Management LLC Sells 110 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ocean Capital Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,105 shares of the business services provider’s stock after selling 110 shares during the quarter. Ocean Capital Management LLC’s holdings in Automatic Data Processing were worth $490,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of ADP. OFI Invest Asset Management bought a new position in Automatic Data Processing during the third quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Automatic Data Processing in the 1st quarter valued at approximately $31,000. Coppell Advisory Solutions Corp. bought a new stake in Automatic Data Processing during the 4th quarter valued at $33,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in Automatic Data Processing during the 3rd quarter valued at $34,000. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. Insiders have sold a total of 16,662 shares of company stock valued at $4,094,554 in the last ninety days. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $249.74 on Friday. The business’s fifty day moving average is $246.48 and its 200 day moving average is $238.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market cap of $102.59 billion, a price-to-earnings ratio of 29.07, a PEG ratio of 2.33 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm earned $1.96 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, March 7th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent research reports. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $253.08.

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.