SL Advisors LLC Has $657,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

SL Advisors LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,246 shares of the business services provider’s stock after selling 63 shares during the period. Automatic Data Processing accounts for about 1.1% of SL Advisors LLC’s portfolio, making the stock its 21st largest holding. SL Advisors LLC’s holdings in Automatic Data Processing were worth $657,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the third quarter valued at about $26,000. Kiely Wealth Advisory Group Inc. bought a new position in Automatic Data Processing in the 2nd quarter valued at approximately $27,000. Dunhill Financial LLC lifted its holdings in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC grew its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter valued at approximately $35,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.0 %

ADP stock traded up $2.95 during midday trading on Wednesday, hitting $291.35. The company’s stock had a trading volume of 479,293 shares, compared to its average volume of 1,102,543. The firm’s 50-day moving average is $298.45 and its 200-day moving average is $277.66. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a market cap of $118.71 billion, a PE ratio of 31.09, a P/E/G ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the firm posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a $1.54 dividend. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insiders Place Their Bets

In related news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This represents a 14.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 41,062 shares of company stock valued at $12,299,550. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on ADP. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Barclays increased their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $289.91.

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.