MeadowBrook Investment Advisors LLC Trims Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

MeadowBrook Investment Advisors LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,866 shares of the business services provider’s stock after selling 72 shares during the period. Automatic Data Processing makes up 1.8% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 12th biggest holding. MeadowBrook Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,010,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Tower Wealth Partners Inc. boosted its holdings in shares of Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares in the last quarter. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after buying an additional 36 shares in the last quarter. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 36 shares in the last quarter. Finally, Petredis Investment Advisors LLC raised its position in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after buying an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $305.78 on Wednesday. The company’s 50 day simple moving average is $297.21 and its 200-day simple moving average is $287.34. The company has a market capitalization of $124.59 billion, a price-to-earnings ratio of 31.89, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. 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 quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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 year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. 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. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Mizuho raised their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing 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.