Carderock Capital Management Inc. Has $9.18 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Carderock Capital Management Inc. lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,374 shares of the business services provider’s stock after selling 165 shares during the period. Automatic Data Processing accounts for about 2.3% of Carderock Capital Management Inc.’s portfolio, making the stock its 16th biggest position. Carderock Capital Management Inc.’s holdings in Automatic Data Processing were worth $9,184,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of the firm’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 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 $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 available at the SEC website. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 0.0 %

Shares of NASDAQ:ADP opened at $296.18 on Friday. The firm has a market cap of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The business has a fifty day simple moving average of $298.07 and a 200 day simple moving average of $279.57. 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 quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.08 earnings per share. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.74%.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Royal Bank of Canada raised their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average 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.