Notis McConarty Edward Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Notis McConarty Edward lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 4.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,953 shares of the business services provider's stock after selling 1,611 shares during the period. Automatic Data Processing accounts for about 4.4% of Notis McConarty Edward's investment portfolio, making the stock its 6th largest position. Notis McConarty Edward's holdings in Automatic Data Processing were worth $9,061,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. AMG National Trust Bank lifted its holdings in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after purchasing an additional 33 shares during the period. Aspiriant LLC lifted its stake in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock valued at $1,466,000 after acquiring an additional 36 shares in the last quarter. Riversedge Advisors LLC increased its stake in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after acquiring an additional 37 shares during the period. Finally, Gilbert & Cook Inc. raised its holdings in Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock worth $539,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

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Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $6.51 during trading hours on Thursday, reaching $288.18. 1,310,650 shares of the company were exchanged, compared to its average volume of 1,657,583. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average of $302.79 and a 200 day moving average of $297.29. The firm has a market cap of $117.42 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month 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 EPS for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Activity

In related news, VP David Foskett sold 1,067 shares of the firm's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares of the company's stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,364 shares of company stock valued at $1,613,094. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

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

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.