Norden Group LLC Has $855,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Norden Group LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,670 shares of the business services provider’s stock after selling 651 shares during the period. Norden Group LLC’s holdings in Automatic Data Processing were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ADP. U.S. Capital Wealth Advisors LLC boosted its position in Automatic Data Processing by 3.6% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 4,584 shares of the business services provider’s stock worth $1,103,000 after purchasing an additional 158 shares during the period. Avestar Capital LLC bought a new position in Automatic Data Processing during the third quarter worth $242,000. Brookstone Capital Management boosted its position in Automatic Data Processing by 96.3% during the third quarter. Brookstone Capital Management now owns 14,186 shares of the business services provider’s stock worth $3,491,000 after purchasing an additional 6,958 shares during the period. Compagnie Lombard Odier SCmA bought a new position in Automatic Data Processing during the third quarter worth $98,000. Finally, Suncoast Equity Management boosted its position in Automatic Data Processing by 2.4% during the third quarter. Suncoast Equity Management now owns 96,249 shares of the business services provider’s stock worth $23,156,000 after purchasing an additional 2,238 shares during the period. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on ADP shares. Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $258.36.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $1.17 during trading on Tuesday, hitting $242.78. 675,835 shares of the company’s stock were exchanged, compared to its average volume of 1,772,227. 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 company has a market cap of $99.73 billion, a PE ratio of 28.40, a P/E/G ratio of 2.28 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The stock’s 50 day moving average price is $246.51 and its two-hundred day moving average price is $239.10.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insiders Place Their Bets

In other news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred 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 completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Company 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.