Deseret Mutual Benefit Administrators Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Deseret Mutual Benefit Administrators reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,221 shares of the business services provider’s stock after selling 82 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Automatic Data Processing were worth $357,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Physicians Financial Services Inc. boosted its stake in shares of Automatic Data Processing by 3.3% in the fourth quarter. Physicians Financial Services Inc. now owns 23,186 shares of the business services provider’s stock worth $6,787,000 after buying an additional 749 shares during the last quarter. Cordatus Wealth Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $2,885,000. Centricity Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $316,000. Financial Harvest LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $597,000. Finally, Nicholson Wealth Management Group LLC lifted its stake in shares of Automatic Data Processing by 45.4% in the 4th quarter. Nicholson Wealth Management Group LLC now owns 5,449 shares of the business services provider’s stock valued at $1,595,000 after purchasing an additional 1,701 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $310.76 on Friday. The business’s 50 day moving average price is $298.72 and its 200-day moving average price is $290.11. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. 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 firm has a market capitalization of $126.62 billion, a PE ratio of 32.40, a P/E/G ratio of 3.65 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its 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 net margin of 19.76% and a return on equity of 80.86%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Wall Street Analysts Forecast Growth

Several research firms recently commented on ADP. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $293.55.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction 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 transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% 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.