Horan Capital Advisors LLC. Sells 287 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Horan Capital Advisors LLC. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the third quarter, Holdings Channel reports. The fund owned 14,056 shares of the business services provider’s stock after selling 287 shares during the quarter. Automatic Data Processing accounts for 1.3% of Horan Capital Advisors LLC.’s portfolio, making the stock its 26th largest holding. Horan Capital Advisors LLC.’s holdings in Automatic Data Processing were worth $3,890,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of ADP. Healthcare of Ontario Pension Plan Trust Fund raised its position in Automatic Data Processing by 93.4% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 88,000 shares of the business services provider’s stock valued at $21,977,000 after purchasing an additional 42,495 shares during the last quarter. Pitcairn Co. increased its stake in shares of Automatic Data Processing by 2.5% in the first quarter. Pitcairn Co. now owns 10,374 shares of the business services provider’s stock valued at $2,591,000 after buying an additional 256 shares during the period. InterOcean Capital Group LLC raised its holdings in Automatic Data Processing by 23.2% in the 1st quarter. InterOcean Capital Group LLC now owns 4,846 shares of the business services provider’s stock valued at $1,210,000 after buying an additional 912 shares during the last quarter. Natixis boosted its position in Automatic Data Processing by 232.5% during the 1st quarter. Natixis now owns 39,723 shares of the business services provider’s stock worth $9,920,000 after buying an additional 27,778 shares during the period. Finally, Ossiam boosted its position in Automatic Data Processing by 1,487.5% during the 1st quarter. Ossiam now owns 124,236 shares of the business services provider’s stock worth $31,027,000 after buying an additional 116,410 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.1 %

NASDAQ ADP opened at $297.89 on Tuesday. The stock has a market capitalization of $121.38 billion, a P/E ratio of 31.79, a P/E/G ratio of 3.46 and a beta of 0.79. The business has a 50 day simple moving average of $287.68 and a 200 day simple moving average of $264.53. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $227.12 and a one year high of $309.37.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for 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 company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. Research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 59.77%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Maria Black sold 19,147 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the completion of the transaction, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This represents a 17.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 97,792 shares of company stock valued at $27,691,708. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ADP. UBS Group raised their price target 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. Stifel Nicolaus raised their target price on Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a research report on Thursday, August 1st. Bank of America upped their price target on Automatic Data Processing from $250.00 to $267.00 and gave the company a “neutral” rating in a research report on Thursday, August 1st. Mizuho increased their price target on 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, TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.