Nichols & Pratt Advisers LLP MA Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Nichols & Pratt Advisers LLP MA lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 335,009 shares of the business services provider’s stock after selling 6,996 shares during the quarter. Automatic Data Processing accounts for approximately 5.6% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 3rd largest position. Nichols & Pratt Advisers LLP MA’s holdings in Automatic Data Processing were worth $78,047,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Park Avenue Securities LLC raised its position in shares of Automatic Data Processing by 0.7% during the third quarter. Park Avenue Securities LLC now owns 11,842 shares of the business services provider’s stock worth $2,849,000 after acquiring an additional 87 shares during the last quarter. Catalyst Financial Partners LLC boosted its holdings in shares of Automatic Data Processing by 15.9% during the 3rd quarter. Catalyst Financial Partners LLC now owns 1,759 shares of the business services provider’s stock worth $423,000 after buying an additional 241 shares during the period. Keel Point LLC increased its position in Automatic Data Processing by 5.2% during the third quarter. Keel Point LLC now owns 1,420 shares of the business services provider’s stock worth $342,000 after acquiring an additional 70 shares during the period. Graypoint LLC increased its holdings in Automatic Data Processing by 9.4% in the 3rd quarter. Graypoint LLC now owns 5,461 shares of the business services provider’s stock valued at $1,314,000 after buying an additional 467 shares during the period. Finally, Gratus Capital LLC grew its stake in shares of Automatic Data Processing by 6.2% during the third quarter. Gratus Capital LLC now owns 6,136 shares of the business services provider’s stock worth $1,476,000 after buying an additional 360 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock traded up $1.64 during mid-day trading on Friday, reaching $246.79. The stock had a trading volume of 206,642 shares, compared to its average volume of 1,748,519. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The business’s fifty day moving average is $245.00 and its 200-day moving average is $239.02. The firm has a market cap of $101.01 billion, a price-to-earnings ratio of 27.50, a PEG ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the previous year, the firm earned $2.52 earnings per share. The firm’s quarterly revenue was up 7.6% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current 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 given a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the transaction, 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 filing with the SEC, which is accessible through this link. In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 694 shares of the company’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 sale, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The disclosure for this sale can be found here. Insiders sold 2,966 shares of company stock worth $749,524 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on ADP shares. Royal Bank of Canada reissued 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. Barclays upped their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $255.42.

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.