Ramsay Stattman Vela & Price Inc. Sells 620 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ramsay Stattman Vela & Price Inc. lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,591 shares of the business services provider’s stock after selling 620 shares during the period. Automatic Data Processing accounts for about 3.1% of Ramsay Stattman Vela & Price Inc.’s portfolio, making the stock its 9th biggest position. Ramsay Stattman Vela & Price Inc.’s holdings in Automatic Data Processing were worth $16,859,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of ADP. State Street Corp raised its stake in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after buying an additional 41,709 shares during the period. Accredited Investors Inc. boosted its position in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Automatic Data Processing by 0.8% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock worth $623,419,000 after buying an additional 17,717 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $308.15 on Tuesday. The company has a market capitalization of $125.56 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79. The business has a fifty day simple moving average of $297.56 and a two-hundred day simple moving average of $288.77. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current 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 paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 362 shares of the 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were 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 $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Mizuho upped 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. Finally, Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus 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.