Okabena Investment Services Inc. Has $2.58 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Okabena Investment Services Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,796 shares of the business services provider’s stock after selling 3,254 shares during the period. Automatic Data Processing makes up approximately 0.7% of Okabena Investment Services Inc.’s investment portfolio, making the stock its 26th biggest position. Okabena Investment Services Inc.’s holdings in Automatic Data Processing were worth $2,575,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. AMG National Trust Bank raised its stake in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after buying an additional 33 shares during the last quarter. Aspiriant LLC increased its position in Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 36 shares during the last quarter. Precedent Wealth Partners LLC lifted its holdings in Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after acquiring an additional 36 shares during the period. Riversedge Advisors LLC boosted its position in Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its stake in shares of Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after purchasing an additional 37 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.5 %

NASDAQ:ADP opened at $300.83 on Friday. The firm has a 50 day moving average of $303.87 and a 200 day moving average of $296.20. The stock has a market capitalization of $122.58 billion, a price-to-earnings ratio of 31.37, a PEG ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $302.30.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 over the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

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.