Federated Hermes Inc. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Federated Hermes Inc. lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 15.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 77,504 shares of the business services provider's stock after selling 14,248 shares during the period. Federated Hermes Inc.'s holdings in Automatic Data Processing were worth $22,688,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. Cyrus J. Lawrence LLC grew its position in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter valued at approximately $41,000. Finally, Kieckhefer Group LLC bought a new position in Automatic Data Processing during the 4th quarter worth approximately $42,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Up 1.3 %

Shares of NASDAQ:ADP traded up $3.87 during trading on Monday, reaching $303.41. 390,301 shares of the stock were exchanged, compared to its average volume of 1,667,988. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The stock has a fifty day moving average of $302.38 and a two-hundred day moving average of $297.72. 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 firm has a market cap of $123.63 billion, a price-to-earnings ratio of 31.64, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts' consensus estimates 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 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing's dividend payout ratio (DPR) is currently 64.23%.

Insiders Place Their Bets

In other news, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 4,297 shares of company stock valued at $1,307,772. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several recent analyst reports. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $302.30.

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.