Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Transcend Capital Advisors LLC

Transcend Capital Advisors LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,072 shares of the business services provider’s stock after selling 4,547 shares during the period. Transcend Capital Advisors LLC’s holdings in Automatic Data Processing were worth $4,443,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Heritage Investment Group Inc. lifted its position in shares of Automatic Data Processing by 1.9% in the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after purchasing an additional 41 shares in the last quarter. Argus Investors Counsel Inc. lifted its position in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after purchasing an additional 43 shares in the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of Automatic Data Processing by 0.5% in the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock worth $1,995,000 after purchasing an additional 45 shares in the last quarter. Schechter Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 1.1% in the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after purchasing an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC lifted its position in shares of Automatic Data Processing by 1.0% in the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after purchasing an additional 47 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction 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 $5,018,996.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on 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 in the company, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction 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 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 quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock traded down $3.27 during midday trading on Friday, hitting $243.07. 1,555,489 shares of the company traded hands, compared to its average volume of 1,384,926. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The business has a 50 day simple moving average of $246.70 and a 200-day simple moving average of $239.26. The stock has a market capitalization of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate 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 company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the company posted $1.96 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.30%. Automatic Data Processing’s payout ratio is 65.19%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI increased their price target 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. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two investment 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’s stock. According to data from MarketBeat.com, the stock 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.