RFG Advisory LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

RFG Advisory LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,919 shares of the business services provider’s stock after selling 188 shares during the quarter. RFG Advisory LLC’s holdings in Automatic Data Processing were worth $2,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC increased its holdings in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on ADP. Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, Barclays increased their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction 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 trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ ADP opened at $297.10 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $297.14 and a 200-day simple moving average of $281.66. The stock has a market capitalization of $121.06 billion, a PE ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the firm posted $2.08 earnings per share. The company’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is presently 65.74%.

Automatic Data Processing 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.