Arcadia Investment Management Corp MI Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Arcadia Investment Management Corp MI lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,311 shares of the business services provider’s stock after selling 210 shares during the quarter. Arcadia Investment Management Corp MI’s holdings in Automatic Data Processing were worth $3,655,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. BlueSpruce Investments LP acquired a new position in Automatic Data Processing in the first quarter valued at $365,757,000. Norges Bank acquired a new position in Automatic Data Processing in the fourth quarter valued at $308,321,000. Capital Research Global Investors boosted its stake in Automatic Data Processing by 22.5% in the fourth quarter. Capital Research Global Investors now owns 3,543,317 shares of the business services provider’s stock valued at $825,487,000 after acquiring an additional 649,791 shares in the last quarter. Nordea Investment Management AB boosted its stake in Automatic Data Processing by 27.7% in the first quarter. Nordea Investment Management AB now owns 2,715,382 shares of the business services provider’s stock valued at $678,601,000 after acquiring an additional 589,831 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. boosted its stake in shares of Automatic Data Processing by 238.1% during the first quarter. Jacobs Levy Equity Management Inc. now owns 784,003 shares of the business services provider’s stock worth $195,797,000 after buying an additional 552,096 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded down $0.69 during trading on Friday, reaching $269.48. The company’s stock had a trading volume of 996,233 shares, compared to its average volume of 1,639,383. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $278.24. The company’s fifty day moving average price is $255.77 and its 200-day moving average price is $249.62. The company has a market capitalization of $110.30 billion, a price-to-earnings ratio of 30.15, a price-to-earnings-growth ratio of 3.00 and a beta of 0.78. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same period last year, the firm earned $1.89 EPS. The company’s revenue for the quarter was up 7.2% on a year-over-year basis. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, September 13th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is 62.50%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADP shares. Jefferies Financial Group raised their price target on Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, August 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. JPMorgan Chase & Co. raised their price target on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a report on Tuesday, August 20th. Finally, Barclays raised their price target on Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $265.36.

Insider Activity

In other news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the sale, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of Automatic Data Processing stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at approximately $23,959,908.96. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 19,147 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the transaction, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. The disclosure for this sale can be found here. In the last three months, insiders sold 49,614 shares of company stock worth $13,519,460. Company insiders own 0.26% of the company’s stock.

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.