Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Heritage Way Advisors LLC

Heritage Way Advisors LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,521 shares of the business services provider’s stock after selling 520 shares during the period. Automatic Data Processing comprises 1.4% of Heritage Way Advisors LLC’s holdings, making the stock its 28th biggest holding. Heritage Way Advisors LLC’s holdings in Automatic Data Processing were worth $3,114,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Victory Capital Management Inc. grew its stake in shares of Automatic Data Processing by 7.1% in the 4th quarter. Victory Capital Management Inc. now owns 351,283 shares of the business services provider’s stock worth $61,896,000 after purchasing an additional 23,346 shares during the last quarter. Savant Capital LLC increased its position in shares of Automatic Data Processing by 10.6% in the fourth quarter. Savant Capital LLC now owns 6,460 shares of the business services provider’s stock worth $1,138,000 after acquiring an additional 618 shares in the last quarter. Fort Washington Investment Advisors Inc. OH increased its position in shares of Automatic Data Processing by 6.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 59,168 shares of the business services provider’s stock worth $10,425,000 after acquiring an additional 3,687 shares in the last quarter. Van ECK Associates Corp increased its position in shares of Automatic Data Processing by 4.2% in the fourth quarter. Van ECK Associates Corp now owns 51,506 shares of the business services provider’s stock worth $9,075,000 after acquiring an additional 2,064 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Automatic Data Processing by 14.0% in the fourth quarter. Institute for Wealth Management LLC. now owns 2,436 shares of the business services provider’s stock worth $429,000 after acquiring an additional 299 shares in the last quarter. 79.65% of the stock is currently owned by institutional investors.

In other Automatic Data Processing news, VP Stuart Sackman sold 576 shares of the firm’s stock in a transaction on Monday, March 15th. The stock was sold at an average price of $185.00, for a total transaction of $106,560.00. Following the completion of the sale, the vice president now owns 23,221 shares of the company’s stock, valued at approximately $4,295,885. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Deborah L. Dyson sold 500 shares of Automatic Data Processing stock in a transaction on Monday, April 12th. The stock was sold at an average price of $188.72, for a total value of $94,360.00. Following the sale, the vice president now directly owns 24,686 shares of the company’s stock, valued at approximately $4,658,741.92. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Automatic Data Processing stock traded up $0.90 on Thursday, hitting $195.21. The company’s stock had a trading volume of 13,671 shares, compared to its average volume of 2,005,013. The company has a fifty day moving average price of $186.66 and a 200-day moving average price of $171.42. The firm has a market cap of $83.54 billion, a P/E ratio of 33.73, a price-to-earnings-growth ratio of 2.39 and a beta of 0.70. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.34. Automatic Data Processing, Inc. has a one year low of $127.31 and a one year high of $194.56.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Tuesday, January 26th. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.29 by $0.23. The business had revenue of $3.70 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Automatic Data Processing had a return on equity of 46.13% and a net margin of 17.07%. Automatic Data Processing’s revenue for the quarter was up .7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.52 EPS. Analysts anticipate that Automatic Data Processing, Inc. will post 5.63 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 11th will be issued a dividend of $0.93 per share. This represents a $3.72 annualized dividend and a yield of 1.91%. The ex-dividend date is Thursday, June 10th. Automatic Data Processing’s dividend payout ratio is 62.84%.

Several research firms have recently weighed in on ADP. Citigroup raised shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $180.00 to $190.00 in a research report on Friday, January 29th. Mizuho initiated coverage on shares of Automatic Data Processing in a report on Wednesday, February 10th. They set a “buy” rating and a $210.00 price target for the company. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $197.00 to $200.00 and gave the stock a “hold” rating in a report on Wednesday, March 24th. Evercore ISI cut shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and decreased their price target for the stock from $197.00 to $143.00 in a report on Tuesday, January 12th. Finally, Barclays raised their price target on shares of Automatic Data Processing from $180.00 to $197.00 and gave the stock an “overweight” rating in a report on Monday, February 1st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $168.53.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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