Steigerwald Gordon & Koch Inc. Trims Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Steigerwald Gordon & Koch Inc. decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.1% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 80,608 shares of the business services provider's stock after selling 1,759 shares during the period. Automatic Data Processing accounts for about 2.7% of Steigerwald Gordon & Koch Inc.'s holdings, making the stock its 12th biggest position. Steigerwald Gordon & Koch Inc.'s holdings in Automatic Data Processing were worth $23,597,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Moloney Securities Asset Management LLC bought a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. raised its position in shares of 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 valued at $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $470,000. Dash Acquisitions Inc. increased its holdings in 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 worth $15,069,000 after acquiring an additional 2,781 shares during the period. Finally, DRW Securities LLC purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $951,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.0 %

Shares of ADP stock traded down $0.05 during midday trading on Monday, reaching $296.18. 2,405,360 shares of the stock were exchanged, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company's 50 day moving average is $297.90 and its two-hundred day moving average is $280.60. 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 cap of $120.68 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 (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.77 billion. During the same period in the previous year, the firm posted $2.08 EPS. The business's revenue for the quarter was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Royal Bank of Canada lifted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a research note on Thursday, October 31st. StockNews.com raised Automatic Data Processing from a "hold" rating to a "buy" rating in a research note on Sunday. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Finally, Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction that occurred 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, 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. In the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by corporate insiders.

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.