Stanley Laman Group Ltd. Has $3.30 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Stanley Laman Group Ltd. reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.1% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 14,182 shares of the business services provider’s stock after selling 1,076 shares during the quarter. Stanley Laman Group Ltd.’s holdings in Automatic Data Processing were worth $3,304,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Charles Schwab Investment Management Inc. lifted its holdings in shares of Automatic Data Processing by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after buying an additional 198,008 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Automatic Data Processing by 5.1% during the third quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after buying an additional 288,234 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Automatic Data Processing by 1.5% during the third quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after buying an additional 77,187 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after buying an additional 553,946 shares during the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after buying an additional 905,043 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $0.27 during midday trading on Thursday, hitting $246.34. 1,224,474 shares of the company were exchanged, compared to its average volume of 1,796,831. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $101.19 billion, a P/E ratio of 28.68, a PEG ratio of 2.32 and a beta of 0.78. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84. The firm has a 50 day simple moving average of $246.89 and a 200-day simple moving average of $239.31.

Automatic Data Processing (NASDAQ:ADP) last posted 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 business 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%. Automatic Data Processing’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the company earned $1.96 EPS. Research analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.27%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were 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 approximately $4,876,970. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have recently commented on ADP shares. Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America raised shares of 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 report on Wednesday, January 17th. Finally, Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $254.58.

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.