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

Courier Capital LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,396 shares of the business services provider’s stock after selling 45 shares during the quarter. Courier Capital LLC’s holdings in Automatic Data Processing were worth $2,165,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Plato Investment Management Ltd lifted its holdings in shares of Automatic Data Processing by 23.8% during the 2nd quarter. Plato Investment Management Ltd now owns 26,610 shares of the business services provider’s stock valued at $6,352,000 after buying an additional 5,114 shares during the last quarter. Moloney Securities Asset Management LLC acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. grew its position in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $470,000. Finally, Dash Acquisitions Inc. raised its holdings in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Two 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’s stock. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Price Performance

ADP stock traded up $3.35 during trading on Monday, hitting $290.20. 1,809,414 shares of the stock traded hands, compared to its average volume of 1,523,564. The stock 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. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year 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 company has a 50 day simple moving average of $298.46 and a 200 day simple moving average of $278.61.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the business earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.12%. The ex-dividend date was Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is 65.74%.

Insiders Place Their Bets

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 41,062 shares of company stock valued at $12,299,550. 0.21% of the stock is currently owned by insiders.

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.