Mitchell Mcleod Pugh & Williams Inc. Has $2.33 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mitchell Mcleod Pugh & Williams Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 9.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,973 shares of the business services provider's stock after selling 847 shares during the period. Mitchell Mcleod Pugh & Williams Inc.'s holdings in Automatic Data Processing were worth $2,334,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after purchasing an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $35,000. Finally, Newbridge Financial Services Group Inc. lifted its holdings in Automatic Data Processing by 43.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 169 shares of the business services provider's stock worth $40,000 after buying an additional 51 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.0 %

NASDAQ:ADP traded down $0.05 during trading hours on Monday, hitting $296.18. The stock had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The business's 50 day moving average is $297.90 and its 200-day moving average is $280.60. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analysts' expectations 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 quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 EPS. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Activity

In other news, CEO Maria Black sold 721 shares of the business's stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock worth $12,604,872 in the last 90 days. Corporate insiders own 0.21% of the company's stock.

Analyst Upgrades and Downgrades

ADP has been the subject of several research reports. Jefferies Financial Group lifted their target price 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. TD Cowen boosted 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. StockNews.com upgraded shares of Automatic Data Processing from a "hold" rating to a "buy" rating in a research report on Sunday. Royal Bank of Canada lifted their price target on shares of 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. Finally, Citigroup increased their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a "neutral" rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $289.91.

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.