Aviance Capital Partners LLC Has $1.61 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Aviance Capital Partners LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,926 shares of the business services provider’s stock after selling 682 shares during the period. Aviance Capital Partners LLC’s holdings in Automatic Data Processing were worth $1,614,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the 3rd quarter worth about $25,000. Fortitude Family Office LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $35,000. Raleigh Capital Management Inc. raised its position in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $41,000. Finally, Bfsg LLC bought a new position in Automatic Data Processing during the 4th quarter worth $42,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $0.85 during trading on Monday, hitting $242.74. 1,108,750 shares of the company were exchanged, compared to its average volume of 1,788,093. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. 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 $99.35 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The business’s 50 day moving average is $245.41 and its 200-day moving average is $238.92.

Automatic Data Processing (NASDAQ:ADP) last issued its 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 during the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.52 EPS. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared 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. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. cut their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday. TD Cowen reduced their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research note on Thursday. Barclays boosted their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $255.42.

Insider Activity

In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,829 shares of company stock valued at $965,274. 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.