Haverford Trust Co Decreases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Haverford Trust Co decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 258,455 shares of the business services provider’s stock after selling 988 shares during the quarter. Haverford Trust Co’s holdings in Automatic Data Processing were worth $75,657,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Raymond James Financial Inc. purchased a new stake in Automatic Data Processing during the fourth quarter worth about $342,942,000. Proficio Capital Partners LLC lifted its position in shares of Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Holocene Advisors LP purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares during the period. Finally, Amundi increased its stake in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after purchasing an additional 449,431 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $295.32 on Monday. The stock has a fifty day moving average price of $303.08 and a 200 day moving average price of $295.50. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The firm has a market capitalization of $120.33 billion, a P/E ratio of 30.79, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. Equities 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.09%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling

In other news, VP David Foskett sold 1,067 shares of the business’s 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 in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. 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 report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated 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. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $296.18.

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.