Loudon Investment Management LLC Has $1.06 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Loudon Investment Management LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,408 shares of the business services provider’s stock after selling 131 shares during the period. Loudon Investment Management LLC’s holdings in Automatic Data Processing were worth $1,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing in the third quarter worth approximately $392,000. Americana Partners LLC lifted its stake in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after acquiring an additional 660 shares during the period. Everence Capital Management Inc. lifted its stake in shares of Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the period. Cyndeo Wealth Partners LLC lifted its stake in shares of Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after acquiring an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $1,635,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ADP shares. Bank of America raised 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 research note on Wednesday, January 17th. Barclays upped their target price on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research 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 research report on Monday, March 11th. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $255.42.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’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 completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the SEC, which is available at 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 shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now 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 valued at $965,274 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded down $5.30 on Thursday, hitting $242.03. The company’s stock had a trading volume of 1,781,121 shares, compared to its average volume of 1,798,777. The company has a 50-day simple moving average of $246.16 and a 200 day simple 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 market capitalization of $99.42 billion, a PE ratio of 28.24, a PEG ratio of 2.27 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same period last year, the company earned $2.52 EPS. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

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.