Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Delta Financial Advisors LLC

Delta Financial Advisors LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,869 shares of the business services provider’s stock after selling 245 shares during the period. Automatic Data Processing accounts for approximately 1.5% of Delta Financial Advisors LLC’s portfolio, making the stock its 16th largest position. Delta Financial Advisors LLC’s holdings in Automatic Data Processing were worth $3,464,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Court Place Advisors LLC grew its position in shares of Automatic Data Processing by 1.2% in the fourth quarter. Court Place Advisors LLC now owns 71,250 shares of the business services provider’s stock valued at $16,599,000 after purchasing an additional 823 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Automatic Data Processing by 69.3% in the fourth quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,033 shares of the business services provider’s stock valued at $241,000 after purchasing an additional 423 shares during the last quarter. Tandem Investment Advisors Inc. grew its position in shares of Automatic Data Processing by 0.4% in the fourth quarter. Tandem Investment Advisors Inc. now owns 165,160 shares of the business services provider’s stock valued at $38,477,000 after purchasing an additional 659 shares during the last quarter. Oakworth Capital Inc. grew its position in shares of Automatic Data Processing by 96.5% in the fourth quarter. Oakworth Capital Inc. now owns 4,967 shares of the business services provider’s stock valued at $1,157,000 after purchasing an additional 2,439 shares during the last quarter. Finally, Telos Capital Management Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $201,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction 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 transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 15,162 shares of company stock valued at $3,741,859. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. 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 research report on Tuesday, March 26th. Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Trading Up 0.1 %

Shares of ADP traded up $0.14 during mid-day trading on Thursday, reaching $243.04. The company had a trading volume of 261,021 shares, compared to its average volume of 1,802,912. The stock has a market cap of $99.84 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The firm has a fifty day simple moving average of $247.54 and a 200-day simple moving average of $239.18. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the business earned $1.96 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis 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.