Thoroughbred Financial Services LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Thoroughbred Financial Services LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,103 shares of the business services provider’s stock after selling 268 shares during the quarter. Thoroughbred Financial Services LLC’s holdings in Automatic Data Processing were worth $2,372,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Integrated Wealth Concepts LLC lifted its holdings in shares of Automatic Data Processing by 16.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,826 shares of the business services provider’s stock valued at $2,996,000 after purchasing an additional 1,545 shares during the last quarter. Royal London Asset Management Ltd. increased its position in Automatic Data Processing by 7.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 219,784 shares of the business services provider’s stock valued at $60,821,000 after buying an additional 14,894 shares in the last quarter. SYM FINANCIAL Corp purchased a new stake in Automatic Data Processing in the third quarter valued at about $206,000. Temasek Holdings Private Ltd boosted its holdings in Automatic Data Processing by 14.7% in the third quarter. Temasek Holdings Private Ltd now owns 164,158 shares of the business services provider’s stock worth $45,427,000 after acquiring an additional 21,005 shares in the last quarter. Finally, Wahed Invest LLC grew its stake in shares of Automatic Data Processing by 7.9% during the third quarter. Wahed Invest LLC now owns 9,878 shares of the business services provider’s stock worth $2,734,000 after acquiring an additional 725 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 6,368 shares of company stock valued at $1,903,541. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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

Automatic Data Processing Trading Down 6.3 %

Shares of NASDAQ:ADP opened at $286.13 on Friday. The company has a market capitalization of $116.59 billion, a PE ratio of 29.84, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The business has a 50 day moving average of $304.41 and a two-hundred day moving average of $297.03. 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 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%. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date was Friday, March 14th. Automatic Data Processing’s dividend 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.