Automatic Data Processing, Inc. (NASDAQ:ADP) is Lederer & Associates Investment Counsel CA’s 8th Largest Position

Lederer & Associates Investment Counsel CA lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,530 shares of the business services provider’s stock after selling 46 shares during the quarter. Automatic Data Processing accounts for approximately 2.4% of Lederer & Associates Investment Counsel CA’s holdings, making the stock its 8th biggest holding. Lederer & Associates Investment Counsel CA’s holdings in Automatic Data Processing were worth $3,375,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Czech National Bank boosted its stake in Automatic Data Processing by 6.5% in the 3rd quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock worth $22,989,000 after buying an additional 5,077 shares during the last quarter. GAMMA Investing LLC lifted its stake in shares of Automatic Data Processing by 23.6% in the 3rd quarter. GAMMA Investing LLC now owns 7,418 shares of the business services provider’s stock valued at $2,053,000 after purchasing an additional 1,415 shares in the last quarter. Diversified Trust Co lifted its stake in shares of Automatic Data Processing by 15.5% in the 3rd quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock valued at $3,473,000 after purchasing an additional 1,683 shares in the last quarter. Miracle Mile Advisors LLC lifted its stake in shares of Automatic Data Processing by 16.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock valued at $623,000 after purchasing an additional 316 shares in the last quarter. Finally, McLean Asset Management Corp acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $219,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $303.01 on Monday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $297.16 and its two-hundred day moving average price is $284.59. The firm has a market capitalization of $123.46 billion, a PE ratio of 31.60, a P/E/G ratio of 3.52 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of several research analyst reports. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday. Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. Barclays boosted their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. 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, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $291.27.

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.