Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Vident Advisory LLC

Vident Advisory LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 19.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,348 shares of the business services provider's stock after selling 8,562 shares during the quarter. Vident Advisory LLC's holdings in Automatic Data Processing were worth $10,348,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Grassi Investment Management acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $227,000. Arkadios Wealth Advisors boosted its position in shares of Automatic Data Processing by 5.7% in the 4th quarter. Arkadios Wealth Advisors now owns 5,003 shares of the business services provider's stock valued at $1,465,000 after purchasing an additional 270 shares during the period. Annex Advisory Services LLC boosted its position in shares of Automatic Data Processing by 96.4% in the 4th quarter. Annex Advisory Services LLC now owns 2,974 shares of the business services provider's stock valued at $871,000 after purchasing an additional 1,460 shares during the period. Diversify Wealth Management LLC boosted its position in shares of Automatic Data Processing by 102.5% in the 4th quarter. Diversify Wealth Management LLC now owns 11,282 shares of the business services provider's stock valued at $3,236,000 after purchasing an additional 5,712 shares during the period. Finally, Seilern Investment Management Ltd acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $13,815,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $322.96 on Tuesday. The company has a market cap of $131.10 billion, a price-to-earnings ratio of 33.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock has a 50 day simple moving average of $298.87 and a 200-day simple moving average of $300.38. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $328.00. 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 (NASDAQ:ADP - Get Free Report) last issued its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company's revenue for the quarter was up 5.7% on a year-over-year basis. During the same period in the prior year, the business posted $2.88 EPS. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th 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 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 63.05%.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research analyst reports. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research report on Friday, May 2nd. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, May 1st. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. TD Securities upped their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research note on Thursday, May 1st. Finally, Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of "Hold" and a consensus price target of $303.55.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,451 shares of company stock valued at $743,024. Corporate insiders own 0.21% of the company's stock.

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.

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