Hutchens & Kramer Investment Management Group LLC Sells 365 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hutchens & Kramer Investment Management Group LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 8.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,730 shares of the business services provider’s stock after selling 365 shares during the period. Hutchens & Kramer Investment Management Group LLC’s holdings in Automatic Data Processing were worth $869,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Sei Investments Co. increased its position in shares of Automatic Data Processing by 19.3% during the first quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock valued at $30,532,000 after buying an additional 21,671 shares during the period. Dakota Wealth Management purchased a new position in shares of Automatic Data Processing during the first quarter valued at about $571,000. Zions Bancorporation N.A. increased its position in shares of Automatic Data Processing by 12.4% during the first quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock valued at $103,000 after buying an additional 50 shares during the period. Covestor Ltd increased its position in shares of Automatic Data Processing by 82.8% during the first quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock valued at $145,000 after buying an additional 288 shares during the period. Finally, Merit Financial Group LLC increased its position in shares of Automatic Data Processing by 4.4% during the first quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock valued at $660,000 after buying an additional 121 shares during the period. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ADP. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Bank of America upgraded shares of 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. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $254.58.

Get Our Latest Research Report on ADP

Insider Buying and Selling

In related news, VP John Ayala sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total value of $352,695.00. Following the sale, the vice president now owns 19,183 shares in the company, valued at $4,510,498.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Ayala sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,662 shares of company stock worth $4,094,554. 0.26% of the stock is owned by insiders.

Automatic Data Processing Trading Down 1.8 %

Shares of NASDAQ ADP opened at $245.31 on Tuesday. The firm’s 50 day moving average price is $246.98 and its 200-day moving average price is $238.94. The company has a market cap of $100.77 billion, a PE ratio of 28.56, a P/E/G ratio of 2.35 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-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.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.96 earnings per share. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Friday, March 8th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.28%. The ex-dividend date was Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Automatic Data Processing Profile

(Free Report)

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.

Read More

Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADPFree Report).

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.