Toth Financial Advisory Corp Sells 310 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Toth Financial Advisory Corp reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,288 shares of the business services provider’s stock after selling 310 shares during the period. Toth Financial Advisory Corp’s holdings in Automatic Data Processing were worth $6,524,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Accredited Investors Inc. lifted its holdings in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after buying an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC increased its position in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after acquiring an additional 1,190,407 shares during the period. Holocene Advisors LP acquired a new position in Automatic Data Processing during the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after purchasing an additional 479,145 shares during the period. Finally, Mackenzie Financial Corp grew its position in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock worth $153,749,000 after purchasing an additional 456,027 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADP shares. Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Barclays lifted their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $297.10 on Friday. The business has a fifty day moving average of $297.13 and a two-hundred day moving average of $282.10. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The stock has a market cap of $121.06 billion, a PE ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.