IFG Advisory LLC Has $1.77 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

IFG Advisory LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,606 shares of the business services provider’s stock after selling 182 shares during the quarter. IFG Advisory LLC’s holdings in Automatic Data Processing were worth $1,772,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the third quarter worth $25,000. Coppell Advisory Solutions LLC acquired a new stake in shares of Automatic Data Processing in the second quarter worth $30,000. Coppell Advisory Solutions Corp. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in shares of Automatic Data Processing in the first quarter worth $31,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Automatic Data Processing in the third quarter worth $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ADP has been the topic of a number of research reports. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI boosted 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. Mizuho boosted their target price 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. Finally, StockNews.com lowered 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 given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $253.08.

Insider Buying and Selling

In related 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 transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 sale, 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. In the last three months, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $248.33 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The company has a market cap of $102.01 billion, a PE ratio of 28.91, a PEG ratio of 2.29 and a beta of 0.78. The company’s 50-day moving average is $246.22 and its two-hundred day moving average is $238.91.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same period in the prior year, the company posted $1.96 EPS. The company’s revenue was up 6.3% compared to the same quarter last year. Equities analysts anticipate 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 declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $1.40 dividend. The ex-dividend date is Thursday, March 7th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.