Courier Capital LLC Has $2.17 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Courier Capital LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 7,396 shares of the business services provider’s stock after selling 45 shares during the period. Courier Capital LLC’s holdings in Automatic Data Processing were worth $2,165,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Federated Hermes Inc. grew its stake in Automatic Data Processing by 0.4% in the second quarter. Federated Hermes Inc. now owns 92,324 shares of the business services provider’s stock valued at $22,037,000 after purchasing an additional 365 shares in the last quarter. Parallel Advisors LLC increased its holdings in Automatic Data Processing by 2.7% during the second quarter. Parallel Advisors LLC now owns 8,071 shares of the business services provider’s stock worth $1,927,000 after buying an additional 216 shares during the last quarter. Thoroughbred Financial Services LLC raised its position in Automatic Data Processing by 34.2% during the second quarter. Thoroughbred Financial Services LLC now owns 8,885 shares of the business services provider’s stock worth $2,120,000 after acquiring an additional 2,265 shares in the last quarter. Wealthspire Advisors LLC lifted its stake in Automatic Data Processing by 46.0% in the second quarter. Wealthspire Advisors LLC now owns 9,720 shares of the business services provider’s stock valued at $2,320,000 after acquiring an additional 3,063 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. grew its position in shares of Automatic Data Processing by 0.8% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 15,426 shares of the business services provider’s stock valued at $3,682,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP traded up $3.35 during trading hours on Monday, hitting $290.20. 1,809,414 shares of the company were exchanged, compared to its average volume of 1,523,564. The company has a market cap of $118.24 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.50 and a beta of 0.79. The firm’s fifty day moving average is $298.46 and its 200 day moving average is $278.61. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the business posted $2.08 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.12%. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 65.74%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Citigroup increased their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In related news, VP David Foskett sold 1,004 shares of Automatic Data Processing 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 sale, the vice president now owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 41,062 shares of company stock worth $12,299,550. Insiders own 0.21% of the company’s stock.

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.