Silver Lake Advisory LLC Sells 44 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Silver Lake Advisory LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,754 shares of the business services provider’s stock after selling 44 shares during the quarter. Automatic Data Processing accounts for 2.3% of Silver Lake Advisory LLC’s portfolio, making the stock its 18th largest position. Silver Lake Advisory LLC’s holdings in Automatic Data Processing were worth $4,136,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $35,000. Evolution Advisers Inc. acquired a new position in shares of Automatic Data Processing in the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. lifted its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after buying an additional 89 shares during the period. Finally, Bfsg LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $42,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,829 shares of company stock valued at $965,274. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Down 2.3 %

Shares of NASDAQ:ADP traded down $5.69 during mid-day trading on Thursday, reaching $241.64. 616,636 shares of the stock were exchanged, compared to its average volume of 1,785,609. The stock’s 50 day simple moving average is $246.16 and its 200-day simple moving average is $239.11. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a market cap of $99.26 billion, a P/E ratio of 28.20, a P/E/G ratio of 2.27 and a beta of 0.78. 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 announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. During the same quarter in the previous year, the firm posted $2.52 earnings per share. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS 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. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Barclays raised their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report 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 assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $255.82.

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.