Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Tilt Investment Management Holdings PBC

Tilt Investment Management Holdings PBC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 21.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,712 shares of the business services provider’s stock after selling 464 shares during the period. Tilt Investment Management Holdings PBC’s holdings in Automatic Data Processing were worth $401,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. OFI Invest Asset Management purchased a new position in Automatic Data Processing during the 3rd quarter worth $25,000. Coppell Advisory Solutions LLC purchased a new position in shares of Automatic Data Processing during the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL purchased a new position in shares of Automatic Data Processing during the first quarter worth about $31,000. Coppell Advisory Solutions Corp. acquired a new position in Automatic Data Processing in the 4th quarter valued at about $33,000. Finally, Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Price Performance

ADP traded down $0.60 on Thursday, hitting $242.30. 457,616 shares of the company were exchanged, compared to its average volume of 1,805,670. The business’s fifty day moving average is $247.54 and its 200 day moving average is $239.18. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $99.53 billion, a P/E ratio of 28.28, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period in the previous year, the firm earned $1.96 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

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.