Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Everence Capital Management Inc.

Everence Capital Management Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 42.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,850 shares of the business services provider’s stock after selling 7,300 shares during the period. Everence Capital Management Inc.’s holdings in Automatic Data Processing were worth $2,883,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of ADP. GAMMA Investing LLC raised its holdings in shares of Automatic Data Processing by 12.5% during the fourth quarter. GAMMA Investing LLC now owns 8,347 shares of the business services provider’s stock worth $2,443,000 after purchasing an additional 929 shares during the last quarter. Versant Capital Management Inc grew its position in Automatic Data Processing by 39.5% during the 4th quarter. Versant Capital Management Inc now owns 1,495 shares of the business services provider’s stock worth $438,000 after purchasing an additional 423 shares during the period. IMPACTfolio LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $204,000. Principal Financial Group Inc. lifted its holdings in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after buying an additional 22,766 shares during the period. Finally, Fidelity D & D Bancorp Inc. boosted its stake in shares of Automatic Data Processing by 1.4% in the third quarter. Fidelity D & D Bancorp Inc. now owns 3,796 shares of the business services provider’s stock worth $1,050,000 after buying an additional 52 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of several recent research reports. Royal Bank of Canada lifted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded up $2.15 during trading hours on Friday, reaching $291.80. 224,807 shares of the company’s stock were exchanged, compared to its average volume of 613,059. The business has a fifty day moving average of $298.35 and a two-hundred day moving average of $276.30. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $118.90 billion, a P/E ratio of 31.14, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.08 EPS. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were paid a $1.54 dividend. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. Automatic Data Processing’s dividend payout ratio is 65.74%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.21% of the company’s stock.

About Automatic Data Processing

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.