Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Reduced by Elo Mutual Pension Insurance Co

Elo Mutual Pension Insurance Co decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 37,217 shares of the business services provider’s stock after selling 1,682 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Automatic Data Processing were worth $10,895,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the third quarter worth approximately $26,000. Dunhill Financial LLC boosted its stake in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group increased 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $302.30.

Automatic Data Processing Stock Up 1.0 %

ADP stock opened at $302.41 on Thursday. The firm has a market cap of $123.22 billion, a PE ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a fifty day simple moving average of $303.59 and a 200 day simple moving average of $295.96. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

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%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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 given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by insiders.

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.