Central Valley Advisors LLC Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Central Valley Advisors LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 57.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 735 shares of the business services provider’s stock after selling 1,000 shares during the quarter. Central Valley Advisors LLC’s holdings in Automatic Data Processing were worth $225,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ADP. Main Street Group LTD increased its position in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after purchasing an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC increased its position in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares during the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $37,000. Banque de Luxembourg S.A. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $318.57 on Tuesday. The firm has a market cap of $129.31 billion, a PE ratio of 33.22, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The business has a 50 day moving average price of $306.18 and a 200-day moving average price of $302.73.

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

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent research reports. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Stifel Nicolaus increased their price target on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $305.64.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, 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 legal filing with the SEC, which is available through this link. Also, VP Christopher D’ambrosio sold 478 shares of the firm’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The disclosure for this sale can be found here. 0.21% of the stock is currently owned by insiders.

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.