Argent Capital Management LLC Has $28.82 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Argent Capital Management LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,442 shares of the business services provider's stock after selling 1,867 shares during the period. Argent Capital Management LLC's holdings in Automatic Data Processing were worth $28,817,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the business. State Street Corp lifted its position in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock worth $5,098,541,000 after buying an additional 424,328 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock worth $2,906,257,000 after acquiring an additional 286,080 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock valued at $964,989,000 after acquiring an additional 435,093 shares during the period. Legal & General Group Plc raised its position in Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider's stock valued at $846,912,000 after purchasing an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after purchasing an additional 41,709 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ADP shares. Mizuho lifted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research report on Thursday, October 31st. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research note on Tuesday, October 22nd. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Finally, Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company's stock, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock worth $12,604,872 over the last 90 days. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Up 1.0 %

Shares of ADP traded up $2.86 during trading hours on Thursday, hitting $296.23. 1,667,287 shares of the stock traded hands, compared to its average volume of 1,641,839. The business has a fifty day moving average of $298.24 and a 200-day moving average of $279.45. 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 firm has a market capitalization of $120.70 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing's dividend payout ratio is presently 65.74%.

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.