Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by Richardson Financial Services Inc.

Richardson Financial Services Inc. trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.8% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 456 shares of the business services provider’s stock after selling 167 shares during the quarter. Richardson Financial Services Inc.’s holdings in Automatic Data Processing were worth $134,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. SYM FINANCIAL Corp lifted its holdings in Automatic Data Processing by 10.1% in the fourth quarter. SYM FINANCIAL Corp now owns 820 shares of the business services provider’s stock worth $240,000 after acquiring an additional 75 shares during the last quarter. Tritonpoint Wealth LLC raised its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Tritonpoint Wealth LLC now owns 6,486 shares of the business services provider’s stock worth $1,909,000 after purchasing an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Automatic Data Processing by 248.8% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 38,448 shares of the business services provider’s stock worth $11,255,000 after purchasing an additional 27,424 shares during the last quarter. Abundance Wealth Counselors boosted its position in Automatic Data Processing by 4.8% during the 4th quarter. Abundance Wealth Counselors now owns 2,443 shares of the business services provider’s stock valued at $715,000 after purchasing an additional 111 shares during the period. Finally, Brio Consultants LLC grew its stake in Automatic Data Processing by 2.6% during the 4th quarter. Brio Consultants LLC now owns 2,437 shares of the business services provider’s stock worth $713,000 after buying an additional 61 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP stock opened at $303.01 on Monday. The firm has a 50-day moving average of $297.16 and a two-hundred day moving average of $284.59. The firm has a market capitalization of $123.46 billion, a PE ratio of 31.60, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 81.85%. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.03%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent research reports. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $291.27.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% 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.