Arcadia Investment Management Corp MI Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Arcadia Investment Management Corp MI trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,038 shares of the business services provider’s stock after selling 273 shares during the period. Arcadia Investment Management Corp MI’s holdings in Automatic Data Processing were worth $4,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of ADP. BlueSpruce Investments LP purchased a new stake in shares of Automatic Data Processing during the 1st quarter worth approximately $365,757,000. International Assets Investment Management LLC raised its holdings in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after buying an additional 1,190,407 shares during the period. Jacobs Levy Equity Management Inc. raised its holdings in Automatic Data Processing by 238.1% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock valued at $195,797,000 after buying an additional 552,096 shares during the period. Mackenzie Financial Corp raised its holdings in Automatic Data Processing by 242.4% during the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after buying an additional 456,027 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in Automatic Data Processing by 12.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock valued at $964,989,000 after buying an additional 435,093 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

ADP opened at $288.18 on Friday. Automatic Data Processing, Inc. has a 12-month low of $211.52 and a 12-month high of $294.18. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $281.57 and its 200-day simple moving average is $260.01. The company has a market capitalization of $117.53 billion, a price-to-earnings ratio of 30.76, a PEG ratio of 3.21 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company earned $2.08 EPS. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.98 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 59.77%.

Insider Transactions at Automatic Data Processing

In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the sale, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Michael A. Bonarti sold 26,442 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $270.96, for a total value of $7,164,724.32. Following the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 58,817 shares of company stock valued at $15,999,208. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their price target on Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $285.09.

About Automatic Data Processing

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.