Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Steigerwald Gordon & Koch Inc.

Steigerwald Gordon & Koch Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,608 shares of the business services provider’s stock after selling 1,759 shares during the quarter. Automatic Data Processing accounts for approximately 2.7% of Steigerwald Gordon & Koch Inc.’s investment portfolio, making the stock its 12th largest position. Steigerwald Gordon & Koch Inc.’s holdings in Automatic Data Processing were worth $23,597,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Kelly Financial Services LLC acquired a new position in Automatic Data Processing in the fourth quarter worth approximately $5,436,000. Aaron Wealth Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.2% during the 4th quarter. Aaron Wealth Advisors LLC now owns 8,805 shares of the business services provider’s stock worth $2,577,000 after acquiring an additional 103 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its holdings in shares of Automatic Data Processing by 11.1% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 868 shares of the business services provider’s stock worth $255,000 after acquiring an additional 87 shares during the last quarter. Riversedge Advisors LLC raised its position in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares during the period. Finally, Astoria Portfolio Advisors LLC. lifted its holdings in shares of Automatic Data Processing by 39.4% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,539 shares of the business services provider’s stock valued at $449,000 after purchasing an additional 435 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Jefferies Financial Group raised their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Price Performance

ADP opened at $296.18 on Friday. The stock has a fifty day moving average price of $297.90 and a 200 day moving average price of $279.99. 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 1 year low of $231.27 and a 1 year high of $309.63. The stock has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 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. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period in the previous year, the company earned $2.08 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Insider Activity

In related news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by corporate insiders.

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.