Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Ninety One North America Inc.

Ninety One North America Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 235,320 shares of the business services provider’s stock after selling 30,126 shares during the period. Automatic Data Processing makes up 2.7% of Ninety One North America Inc.’s holdings, making the stock its 14th largest position. Ninety One North America Inc.’s holdings in Automatic Data Processing were worth $54,823,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing in the third quarter worth about $25,000. Coppell Advisory Solutions LLC purchased a new position in Automatic Data Processing during the second quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL purchased a new position in Automatic Data Processing during the first quarter worth approximately $31,000. Coppell Advisory Solutions Corp. purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $33,000. Finally, Fortitude Family Office LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded down $0.05 during midday trading on Thursday, hitting $242.85. The stock had a trading volume of 281,202 shares, compared to its average volume of 1,803,365. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. 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 company has a market capitalization of $99.76 billion, a PE ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. The stock has a 50 day simple moving average of $247.54 and a 200-day simple moving average of $239.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on ADP shares. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho increased their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $254.58.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the sale, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction 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 sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by insiders.

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.