Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Bahl & Gaynor Inc.

Bahl & Gaynor Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,007,231 shares of the business services provider’s stock after selling 25,184 shares during the period. Automatic Data Processing makes up 1.6% of Bahl & Gaynor Inc.’s portfolio, making the stock its 21st biggest position. Bahl & Gaynor Inc. owned 0.25% of Automatic Data Processing worth $294,847,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Moloney Securities Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at approximately $209,000. Littlejohn Financial Services Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at $708,000. Nomura Asset Management Co. Ltd. grew its holdings in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth about $470,000. Finally, DRW Securities LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth about $951,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David Foskett sold 1,004 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research reports. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Up 1.1 %

Automatic Data Processing stock opened at $318.64 on Tuesday. The firm has a market capitalization of $129.83 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a 50-day simple moving average of $301.15 and a 200-day simple moving average of $292.72. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $320.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.93%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

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.