Automatic Data Processing, Inc. (NASDAQ:ADP) Position Lessened by Northstar Asset Management Inc.

Northstar Asset Management Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 58,778 shares of the business services provider’s stock after selling 240 shares during the period. Automatic Data Processing accounts for approximately 4.0% of Northstar Asset Management Inc.’s portfolio, making the stock its 9th largest holding. Northstar Asset Management Inc.’s holdings in Automatic Data Processing were worth $13,694,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing during the 4th quarter valued at $35,000. Evolution Advisers Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at $41,000. Raleigh Capital Management Inc. boosted its stake in Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the last quarter. Bfsg LLC bought a new position in Automatic Data Processing during the 4th quarter valued at $42,000. Finally, Vestor Capital LLC bought a new position in Automatic Data Processing during the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ADP shares. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho raised their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Barclays increased their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded down $2.53 during trading hours on Thursday, hitting $251.49. 1,096,120 shares of the company traded hands, compared to its average volume of 1,693,432. The firm has a market cap of $102.93 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.77 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm’s 50-day simple moving average is $245.87 and its two-hundred day simple moving average is $240.91. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter last year, the company earned $2.52 EPS. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm 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 2.23%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing 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 transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

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.