Yousif Capital Management LLC Sells 6,019 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Yousif Capital Management LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.4% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 87,367 shares of the business services provider’s stock after selling 6,019 shares during the quarter. Yousif Capital Management LLC’s holdings in Automatic Data Processing were worth $20,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing during the third quarter valued at about $25,000. Fortitude Family Office LLC bought a new position in Automatic Data Processing in the 4th quarter worth about $35,000. Raleigh Capital Management Inc. increased its stake in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Carmel Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 43.4% in the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after acquiring an additional 69 shares in the last quarter. Finally, VisionPoint Advisory Group LLC boosted its position in shares of Automatic Data Processing by 323.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock valued at $57,000 after acquiring an additional 181 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 over the last ninety days. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Up 0.2 %

ADP stock traded up $0.53 during trading on Tuesday, hitting $246.84. 1,661,476 shares of the company traded hands, compared to its average volume of 1,807,928. The company has a 50-day moving average of $247.09 and a 200-day moving average of $239.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The firm has a market capitalization of $101.40 billion, a PE ratio of 28.74, a P/E/G 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 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the prior year, the firm posted $1.96 earnings per share. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

ADP has been the topic of several research analyst reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $254.58.

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.