Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,901 shares of the business services provider’s stock after selling 3,272 shares during the period. Automatic Data Processing accounts for about 3.0% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 9th largest position. Roffman Miller Associates Inc. PA’s holdings in Automatic Data Processing were worth $41,912,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Heritage Investment Group Inc. lifted its stake in Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after acquiring an additional 41 shares in the last quarter. Argus Investors Counsel Inc. lifted its position in shares of Automatic Data Processing by 0.5% during the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after purchasing an additional 43 shares in the last quarter. Trust Co. of Toledo NA OH boosted its stake in shares of Automatic Data Processing by 0.5% in the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after purchasing an additional 45 shares during the period. Schechter Investment Advisors LLC grew its holdings in shares of Automatic Data Processing by 1.1% in the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock valued at $999,000 after purchasing an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC increased its stake in Automatic Data Processing by 1.0% during the 4th 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 period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were 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 of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $1.44 during trading hours on Friday, reaching $244.90. 592,893 shares of the company’s stock were exchanged, compared to its average volume of 1,781,764. Automatic Data Processing, Inc. has a 1-year low of $205.53 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 firm has a market capitalization of $100.60 billion, a price-to-earnings ratio of 28.68, a P/E/G ratio of 2.32 and a beta of 0.78. The company has a 50-day moving average of $246.89 and a 200 day moving average of $239.31.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the company posted $1.96 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed 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 2.29%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI boosted 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, March 26th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $254.58.

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.