Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by CCLA Investment Management

CCLA Investment Management lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,265 shares of the business services provider’s stock after selling 2,508 shares during the quarter. CCLA Investment Management’s holdings in Automatic Data Processing were worth $4,174,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. R.H. Investment Group LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $5,436,000. SeaCrest Wealth Management LLC grew its position in Automatic Data Processing by 2.1% during the 4th quarter. SeaCrest Wealth Management LLC now owns 2,518 shares of the business services provider’s stock worth $737,000 after purchasing an additional 52 shares during the period. Global Financial Private Client LLC grew its position in Automatic Data Processing by 17.5% during the 4th quarter. Global Financial Private Client LLC now owns 4,681 shares of the business services provider’s stock worth $1,370,000 after purchasing an additional 696 shares during the period. Signal Advisors Wealth LLC raised its stake in shares of Automatic Data Processing by 13.1% during the 4th quarter. Signal Advisors Wealth LLC now owns 2,547 shares of the business services provider’s stock valued at $749,000 after buying an additional 295 shares during the last quarter. Finally, Cullen Investment Group LTD. purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $208,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s 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 sale, the vice president now directly 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $291.69 on Wednesday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. 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 stock has a market cap of $118.85 billion, a price-to-earnings ratio of 31.13, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The business has a fifty day moving average of $298.48 and a two-hundred day moving average of $279.35.

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

Automatic Data Processing Increases Dividend

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

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.