HBK Sorce Advisory LLC Sells 84 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

HBK Sorce Advisory LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the fourth quarter, Holdings Channel.com reports. The firm owned 3,564 shares of the business services provider’s stock after selling 84 shares during the quarter. HBK Sorce Advisory LLC’s holdings in Automatic Data Processing were worth $830,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in ADP. Strategic Blueprint LLC raised its stake in Automatic Data Processing by 8.3% in the 4th quarter. Strategic Blueprint LLC now owns 4,153 shares of the business services provider’s stock worth $968,000 after purchasing an additional 318 shares in the last quarter. Bleakley Financial Group LLC raised its position in shares of Automatic Data Processing by 5.8% in the fourth quarter. Bleakley Financial Group LLC now owns 15,771 shares of the business services provider’s stock valued at $3,674,000 after buying an additional 863 shares in the last quarter. Investment Partners Asset Management Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $478,000. Meeder Advisory Services Inc. grew its position in Automatic Data Processing by 40.9% during the fourth quarter. Meeder Advisory Services Inc. now owns 9,908 shares of the business services provider’s stock worth $2,308,000 after buying an additional 2,878 shares in the last quarter. Finally, Nisa Investment Advisors LLC increased its stake in Automatic Data Processing by 3.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 174,433 shares of the business services provider’s stock worth $40,638,000 after acquiring an additional 5,952 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Trading Up 1.4 %

Shares of Automatic Data Processing stock opened at $250.01 on Wednesday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm’s 50 day moving average is $248.05 and its 200 day moving average is $239.03. 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 $102.70 billion, a PE ratio of 29.10, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its 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. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.96 EPS. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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 2.24%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The disclosure for this sale can be found here. Insiders have sold 16,662 shares of company stock worth $4,094,554 in the last quarter. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing 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.