Benjamin Edwards Inc. Reduces Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Benjamin Edwards Inc. trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 34.0% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,793 shares of the business services provider’s stock after selling 6,086 shares during the period. Benjamin Edwards Inc.’s holdings in Automatic Data Processing were worth $2,747,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing in the third quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth $35,000. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $41,000. Raleigh Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the period. Finally, Bfsg LLC bought a new position in shares of Automatic Data Processing in the fourth quarter worth about $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 2.3 %

Shares of NASDAQ ADP traded down $5.64 during mid-day trading on Thursday, reaching $241.69. 722,220 shares of the company were exchanged, compared to its average volume of 1,786,924. The stock has a market cap of $99.28 billion, a price-to-earnings ratio of 28.20, a P/E/G ratio of 2.27 and a beta of 0.78. The firm has a 50-day moving average of $246.16 and a 200 day moving average of $239.11. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 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 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.52 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Analyst Ratings Changes

A number of brokerages recently weighed in on ADP. 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 upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday. Mizuho upped their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Royal Bank of Canada restated 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $255.82.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing 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 directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 3,829 shares of company stock worth $965,274 in the last 90 days. Insiders own 0.26% of the company’s stock.

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.