Delta Financial Advisors LLC Sells 245 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Delta Financial Advisors LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,869 shares of the business services provider’s stock after selling 245 shares during the quarter. Automatic Data Processing makes up about 1.5% of Delta Financial Advisors LLC’s portfolio, making the stock its 16th biggest position. Delta Financial Advisors LLC’s holdings in Automatic Data Processing were worth $3,464,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of ADP. OFI Invest Asset Management bought a new stake in Automatic Data Processing during the 3rd quarter valued at $25,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Automatic Data Processing in the 2nd quarter worth $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing in the 1st quarter worth $31,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $33,000. Finally, Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $35,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP traded up $0.14 during trading on Thursday, reaching $243.04. 261,021 shares of the company traded hands, compared to its average volume of 1,802,912. The firm’s fifty day simple moving average is $247.54 and its 200 day simple moving average is $239.18. The stock has a market cap of $99.84 billion, a P/E ratio of 28.28, a PEG ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock worth $3,741,859 in the last ninety days. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on ADP shares. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $254.58.

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.