Automatic Data Processing, Inc. (NASDAQ:ADP) is Zevin Asset Management LLC’s 4th Largest Position

Zevin Asset Management LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the third quarter, Holdings Channel.com reports. The firm owned 99,627 shares of the business services provider’s stock after selling 303 shares during the period. Automatic Data Processing comprises about 4.3% of Zevin Asset Management LLC’s holdings, making the stock its 4th biggest position. Zevin Asset Management LLC’s holdings in Automatic Data Processing were worth $27,570,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing during the 2nd quarter valued at $27,000. Hexagon Capital Partners LLC boosted its holdings in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares during the period. Capital Performance Advisors LLP purchased a new position in Automatic Data Processing during the 3rd quarter valued at $35,000. Crewe Advisors LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at $33,000. Finally, Pathway Financial Advisers LLC purchased a new position in Automatic Data Processing during the 1st quarter valued at $36,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the sale, the chief executive officer now owns 92,807 shares in the company, valued at $25,464,384.66. The trade was a 17.10 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 97,792 shares of company stock worth $27,691,708. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 1.4 %

Shares of ADP stock opened at $297.64 on Monday. Automatic Data Processing, Inc. has a 1-year low of $227.12 and a 1-year high of $309.37. The stock’s fifty day moving average price is $287.23 and its 200 day moving average price is $264.14. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $121.28 billion, a price-to-earnings ratio of 31.77, a price-to-earnings-growth ratio of 3.46 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.08 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on ADP. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Bank of America lifted their target price on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Stifel Nicolaus lifted their target price on Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research report on Thursday, August 1st. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $289.91.

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.