Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 181,714 shares of the business services provider’s stock after selling 2,132 shares during the quarter. Automatic Data Processing makes up about 1.8% of KCM Investment Advisors LLC’s holdings, making the stock its 9th biggest position. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $53,193,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of the stock. Resona Asset Management Co. Ltd. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $38,497,000. Broderick Brian C increased its holdings in Automatic Data Processing by 1.9% in the fourth quarter. Broderick Brian C now owns 58,200 shares of the business services provider’s stock worth $17,037,000 after buying an additional 1,082 shares during the last quarter. Wescott Financial Advisory Group LLC increased its holdings in Automatic Data Processing by 5.4% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider’s stock worth $508,000 after buying an additional 89 shares during the last quarter. World Investment Advisors raised its position in Automatic Data Processing by 16.9% during the fourth quarter. World Investment Advisors now owns 8,730 shares of the business services provider’s stock valued at $2,555,000 after acquiring an additional 1,264 shares in the last quarter. Finally, Westpac Banking Corp lifted its stake in Automatic Data Processing by 6.9% in the fourth quarter. Westpac Banking Corp now owns 28,014 shares of the business services provider’s stock valued at $8,201,000 after acquiring an additional 1,802 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,368 shares of company stock valued at $1,903,541. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ADP. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group raised their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $302.30.

Automatic Data Processing Stock Down 6.3 %

NASDAQ:ADP opened at $286.13 on Friday. The company has a market cap of $116.59 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average price is $304.41 and its two-hundred day moving average price is $297.03. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates 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, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were paid a $1.54 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.15%. Automatic Data Processing’s payout ratio is presently 64.23%.

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.