NCM Capital Management LLC Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

NCM Capital Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.3% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 763 shares of the business services provider’s stock after selling 78 shares during the period. NCM Capital Management LLC’s holdings in Automatic Data Processing were worth $223,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADP. Main Street Group LTD boosted its position in shares of Automatic Data Processing by 50.7% during the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC lifted its stake in 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 worth $35,000 after purchasing an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,451 shares of company stock worth $743,024 over the last quarter. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.0%

ADP stock opened at $322.80 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $323.17. The stock has a market capitalization of $131.03 billion, a price-to-earnings ratio of 33.66, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s fifty day simple moving average is $299.51 and its two-hundred day simple moving average is $300.53.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. During the same period in the prior year, the company posted $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Analysts Set New Price Targets

A number of equities analysts recently commented on ADP shares. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. 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, May 1st. Finally, Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $303.55.

About Automatic Data Processing

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.