Horan Capital Advisors LLC. Sells 373 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Horan Capital Advisors LLC. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 4th quarter, Holdings Channel.com reports. The fund owned 14,513 shares of the business services provider’s stock after selling 373 shares during the period. Automatic Data Processing makes up approximately 1.2% of Horan Capital Advisors LLC.’s portfolio, making the stock its 29th largest position. Horan Capital Advisors LLC.’s holdings in Automatic Data Processing were worth $3,381,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new stake in Automatic Data Processing during the fourth quarter worth about $35,000. Evolution Advisers Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Raleigh Capital Management Inc. increased its stake in shares of Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter worth $42,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock worth $965,274 over the last ninety days. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $241.89 on Friday. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.37 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.27 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The stock’s 50 day simple moving average is $245.63 and its two-hundred day simple moving average is $239.08.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter in the prior year, the firm earned $2.52 earnings per share. Automatic Data Processing’s revenue was up 7.6% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.32%. Automatic Data Processing’s payout ratio is currently 62.50%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. cut their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. TD Cowen cut their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $255.42.

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.