Investment House LLC Has $25.62 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Investment House LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 87,536 shares of the business services provider’s stock after selling 308 shares during the quarter. Automatic Data Processing makes up 1.4% of Investment House LLC’s portfolio, making the stock its 17th biggest position. Investment House LLC’s holdings in Automatic Data Processing were worth $25,624,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd increased its holdings in shares of Automatic Data Processing by 47.4% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 27,888 shares of the business services provider’s stock worth $8,167,000 after acquiring an additional 8,963 shares in the last quarter. Bestgate Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $201,000. North Forty Two & Co. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $292,000. VSM Wealth Advisory LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $65,000. Finally, Brooklyn FI LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $757,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Stock Down 0.2 %

ADP stock opened at $295.93 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $302.66 and a two-hundred day moving average price of $295.04. The company has a market cap of $120.58 billion, a price-to-earnings ratio of 30.86, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock worth $1,762,074 in the last ninety days. 0.21% of the stock is owned by company insiders.

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.