Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Roffman Miller Associates Inc. PA

Roffman Miller Associates Inc. PA reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 179,901 shares of the business services provider’s stock after selling 3,272 shares during the quarter. Automatic Data Processing accounts for 3.0% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 9th largest position. Roffman Miller Associates Inc. PA’s holdings in Automatic Data Processing were worth $41,912,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. boosted its holdings in Automatic Data Processing by 2.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock worth $2,085,849,000 after purchasing an additional 198,008 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Automatic Data Processing by 5.1% in the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock valued at $1,420,028,000 after acquiring an additional 288,234 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Automatic Data Processing by 1.5% in the third quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock valued at $1,261,327,000 after acquiring an additional 77,187 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Automatic Data Processing by 18.3% during the third quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock worth $855,287,000 after acquiring an additional 553,946 shares in the last quarter. Finally, Invesco Ltd. boosted its position in Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock valued at $752,703,000 after purchasing an additional 905,043 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 over the last three months. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $1.44 during trading on Friday, hitting $244.90. The company had a trading volume of 592,893 shares, compared to its average volume of 1,781,764. The firm has a market capitalization of $100.60 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 2.32 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50-day moving average price is $246.89 and its 200 day moving average price is $239.31.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.96 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 65.19%.

About Automatic Data Processing

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.