Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Procyon Advisors LLC

Procyon Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 21,666 shares of the business services provider’s stock after purchasing an additional 1,167 shares during the quarter. Procyon Advisors LLC’s holdings in Automatic Data Processing were worth $5,047,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $25,000. Coppell Advisory Solutions LLC purchased a new stake in Automatic Data Processing in the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new position in Automatic Data Processing during the first quarter worth $31,000. Coppell Advisory Solutions Corp. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $33,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $34,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $253.08.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Automatic Data Processing news, VP John Ayala sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total value of $352,695.00. Following the completion of the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 16,662 shares of company stock valued at $4,094,554. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock traded up $1.54 during mid-day trading on Thursday, hitting $249.87. 147,216 shares of the stock were exchanged, compared to its average volume of 1,882,746. The company has a 50-day simple moving average of $246.22 and a 200 day simple moving average of $238.91. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market capitalization of $102.64 billion, a price-to-earnings ratio of 28.91, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the firm posted $1.96 EPS. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Friday, March 8th will be issued a dividend of $1.40 per share. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Automatic Data Processing’s payout ratio is currently 65.19%.

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.