Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Reduced by Kentucky Retirement Systems

Kentucky Retirement Systems trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 28,023 shares of the business services provider’s stock after selling 386 shares during the quarter. Kentucky Retirement Systems’ holdings in Automatic Data Processing were worth $8,203,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new position in Automatic Data Processing in the 3rd quarter worth about $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $311.97 on Friday. The stock has a fifty day moving average price of $298.44 and a 200 day moving average price of $289.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The stock has a market cap of $127.12 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.61 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 in the last 90 days. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $293.55.

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.