Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Norden Group LLC

Norden Group LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.1% during the 4th quarter, Holdings Channel.com reports. The firm owned 3,670 shares of the business services provider’s stock after selling 651 shares during the quarter. Norden Group LLC’s holdings in Automatic Data Processing were worth $855,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $392,000. Americana Partners LLC boosted its position in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after acquiring an additional 660 shares during the last quarter. Everence Capital Management Inc. boosted its position in shares of Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC boosted its position in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after acquiring an additional 5,318 shares during the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $1,635,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on ADP shares. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI raised 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 report on Tuesday, March 26th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $258.36.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction 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 owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The disclosure for this sale can be found here. Over the last quarter, insiders sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.5 %

Shares of ADP traded down $1.17 during mid-day trading on Tuesday, reaching $242.78. 675,835 shares of the stock traded hands, compared to its average volume of 1,772,227. The firm has a market cap of $99.73 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 2.28 and a beta of 0.78. The stock has a fifty day simple moving average of $246.51 and a 200 day simple moving average of $239.10. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) 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%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $1.96 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.