OMERS ADMINISTRATION Corp Sells 80 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

OMERS ADMINISTRATION Corp lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,905 shares of the business services provider’s stock after selling 80 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Automatic Data Processing were worth $6,412,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Aprio Wealth Management LLC lifted its position in Automatic Data Processing by 66.8% during the fourth quarter. Aprio Wealth Management LLC now owns 1,436 shares of the business services provider’s stock worth $420,000 after purchasing an additional 575 shares during the period. Salem Investment Counselors Inc. lifted its holdings in shares of Automatic Data Processing by 11.8% during the 4th quarter. Salem Investment Counselors Inc. now owns 2,596 shares of the business services provider’s stock worth $764,000 after acquiring an additional 275 shares during the period. Wedmont Private Capital lifted its holdings in shares of Automatic Data Processing by 67.9% during the 4th quarter. Wedmont Private Capital now owns 6,292 shares of the business services provider’s stock worth $1,805,000 after acquiring an additional 2,545 shares during the period. Cooper Financial Group boosted its position in shares of Automatic Data Processing by 12.8% during the 4th quarter. Cooper Financial Group now owns 1,114 shares of the business services provider’s stock worth $326,000 after acquiring an additional 126 shares in the last quarter. Finally, Grassi Investment Management bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $227,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.4%

Shares of NASDAQ ADP opened at $308.19 on Wednesday. The company has a 50 day simple moving average of $297.44 and a 200 day simple moving average of $299.52. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The firm has a market cap of $125.10 billion, a PE ratio of 32.14, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company’s revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the company posted $2.88 EPS. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is presently 63.05%.

Analyst Ratings Changes

Several equities research analysts have weighed in on ADP shares. TD Securities upped their target price on Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Stifel Nicolaus increased their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $303.55.

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.