KCM Investment Advisors LLC Sells 2,132 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

KCM Investment Advisors LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 181,714 shares of the business services provider's stock after selling 2,132 shares during the quarter. Automatic Data Processing comprises 1.8% of KCM Investment Advisors LLC's portfolio, making the stock its 9th largest position. KCM Investment Advisors LLC's holdings in Automatic Data Processing were worth $53,193,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Resona Asset Management Co. Ltd. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $38,497,000. Broderick Brian C lifted its holdings in Automatic Data Processing by 1.9% during the fourth quarter. Broderick Brian C now owns 58,200 shares of the business services provider's stock worth $17,037,000 after acquiring an additional 1,082 shares in the last quarter. Wescott Financial Advisory Group LLC lifted its holdings in shares of Automatic Data Processing by 5.4% during the 4th quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider's stock valued at $508,000 after purchasing an additional 89 shares in the last quarter. World Investment Advisors grew its position in shares of Automatic Data Processing by 16.9% in the 4th quarter. World Investment Advisors now owns 8,730 shares of the business services provider's stock valued at $2,555,000 after purchasing an additional 1,264 shares during the period. Finally, Westpac Banking Corp increased its stake in Automatic Data Processing by 6.9% during the 4th quarter. Westpac Banking Corp now owns 28,014 shares of the business services provider's stock worth $8,201,000 after purchasing an additional 1,802 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

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Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. One equities research analyst has 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, the company has an average rating of "Hold" and a consensus target price of $302.30.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company's stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,364 shares of company stock worth $1,613,094 over the last ninety days. Insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $6.51 on Thursday, hitting $288.18. 1,310,650 shares of the stock were exchanged, compared to its average volume of 1,657,611. The company has a market capitalization of $117.42 billion, a PE ratio of 29.93, a P/E/G ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business's fifty day moving average is $302.79 and its 200 day moving average is $297.29. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

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.