Searle & CO. Has $3.49 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Searle & CO. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 14,996 shares of the business services provider’s stock after selling 1,200 shares during the quarter. Searle & CO.’s holdings in Automatic Data Processing were worth $3,494,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter worth $35,000. Raleigh Capital Management Inc. increased its stake in shares of Automatic Data Processing by 106.0% in the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Evolution Advisers Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter valued at about $41,000. Finally, Bfsg LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 2.2 %

ADP traded up $5.44 during midday trading on Wednesday, reaching $247.33. 2,738,808 shares of the company were exchanged, compared to its average volume of 1,799,275. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $101.60 billion, a P/E ratio of 28.16, a PEG ratio of 2.29 and a beta of 0.78. The stock’s 50-day simple moving average is $246.29 and its 200 day simple moving average is $239.06. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm earned $1.96 EPS. Automatic Data Processing’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. Automatic Data Processing’s dividend payout ratio is 65.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ADP shares. Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report 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 issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $258.36.

Insider Activity

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 in the last quarter. Company insiders own 0.26% of the company’s stock.

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.