Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 8,639 shares of the business services provider’s stock after selling 194 shares during the quarter. First Horizon Advisors Inc.’s holdings in Automatic Data Processing were worth $2,013,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Heritage Investment Group Inc. lifted its position in Automatic Data Processing by 1.9% during the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after purchasing an additional 41 shares during the period. Argus Investors Counsel Inc. raised its position in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after buying an additional 43 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in Automatic Data Processing by 1.1% in the 3rd quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after purchasing an additional 46 shares in the last quarter. Simon Quick Advisors LLC boosted its stake in Automatic Data Processing by 1.0% during the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after buying an additional 47 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in shares of Automatic Data Processing by 0.7% in the third quarter. Allworth Financial LP now owns 6,886 shares of the business services provider’s stock valued at $1,657,000 after purchasing an additional 48 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.1 %

Shares of Automatic Data Processing stock opened at $241.89 on Friday. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84. The company has a 50 day moving average of $245.91 and a 200 day moving average of $239.13. The company has a market capitalization of $99.37 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same period last year, the firm earned $2.52 earnings per share. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

Several analysts have recently commented on ADP shares. JPMorgan Chase & Co. reduced their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday. Evercore ISI lifted their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Barclays boosted their target price on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $255.42.

Insiders Place Their Bets

In related news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the transaction, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 3,829 shares of company stock valued at $965,274. 0.26% of the stock is owned by corporate insiders.

About Automatic Data Processing

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.