Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Spring Capital Management LLC

Spring Capital Management LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 20,436 shares of the business services provider’s stock after selling 358 shares during the period. Automatic Data Processing accounts for approximately 3.7% of Spring Capital Management LLC’s investment portfolio, making the stock its 14th biggest holding. Spring Capital Management LLC’s holdings in Automatic Data Processing were worth $4,761,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. State Street Corp boosted its stake in shares of Automatic Data Processing by 1.8% during the 2nd quarter. State Street Corp now owns 17,980,729 shares of the business services provider’s stock worth $3,974,083,000 after acquiring an additional 321,355 shares in the last quarter. Morgan Stanley lifted its stake in Automatic Data Processing by 7.8% in the 4th quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock valued at $2,629,852,000 after buying an additional 794,328 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Automatic Data Processing by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock valued at $2,085,849,000 after buying an additional 198,008 shares in the last quarter. Moneta Group Investment Advisors LLC lifted its stake in Automatic Data Processing by 94,265.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after buying an additional 6,763,553 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after buying an additional 288,234 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $248.33 on Thursday. The company has a 50-day simple moving average of $246.22 and a 200-day simple moving average of $238.91. The stock has a market capitalization of $102.01 billion, a price-to-earnings ratio of 28.91, a PEG ratio of 2.30 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 company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Analysts Set New Price Targets

ADP has been the subject of a number of recent research reports. Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Stifel Nicolaus reissued a “hold” rating and issued a $250.00 target price on shares of Automatic Data Processing in a research report on Thursday, November 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average price target of $253.08.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction 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 sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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 shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Ayala sold 1,500 shares of the firm’s stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now directly owns 19,183 shares of the company’s stock, valued at $4,510,498.79. The disclosure for this sale can be found here. Insiders have sold 16,662 shares of company stock valued at $4,094,554 in the last quarter. Company insiders own 0.26% of the company’s stock.

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.