Overbrook Management Corp Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Overbrook Management Corp decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,553 shares of the business services provider’s stock after selling 79 shares during the period. Overbrook Management Corp’s holdings in Automatic Data Processing were worth $1,527,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Evolution Advisers Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth $41,000. Stevens Capital Management LP bought a new position in shares of Automatic Data Processing during the 4th quarter worth $886,000. Abbrea Capital LLC grew its position in shares of Automatic Data Processing by 4.0% during the 4th quarter. Abbrea Capital LLC now owns 5,021 shares of the business services provider’s stock worth $1,177,000 after buying an additional 192 shares in the last quarter. Syon Capital LLC grew its position in shares of Automatic Data Processing by 19.8% during the 4th quarter. Syon Capital LLC now owns 4,515 shares of the business services provider’s stock worth $1,052,000 after buying an additional 747 shares in the last quarter. Finally, Meritage Portfolio Management bought a new position in shares of Automatic Data Processing during the 4th quarter worth $424,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $243.07 on Friday. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $99.85 billion, a PE ratio of 28.30, a P/E/G ratio of 2.31 and a beta of 0.78. The business has a 50-day simple moving average of $246.70 and a two-hundred day simple moving average of $239.26. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping 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 period last year, the business posted $1.96 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In other news, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last three months. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ADP shares. Bank of America raised 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. 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. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average 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.