Main Street Research LLC Has $796,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Main Street Research LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,396 shares of the business services provider’s stock after selling 184 shares during the period. Main Street Research LLC’s holdings in Automatic Data Processing were worth $796,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new position in Automatic Data Processing in the 3rd quarter valued at $25,000. Coppell Advisory Solutions LLC acquired a new position in Automatic Data Processing in the 2nd quarter valued at $30,000. Coppell Advisory Solutions Corp. acquired a new position in Automatic Data Processing in the 4th quarter valued at $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing during the 1st quarter worth $31,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth $34,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.0 %

Automatic Data Processing stock traded down $0.06 during trading hours on Tuesday, hitting $244.02. The stock had a trading volume of 685,492 shares, compared to its average volume of 1,822,517. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The stock has a market cap of $100.24 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The business’s 50 day simple moving average is $247.82 and its 200-day simple moving average is $239.13.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.96 earnings per share. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 over the last 90 days. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI increased their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $254.58.

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.