Auxier Asset Management Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Auxier Asset Management trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 14.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,620 shares of the business services provider's stock after selling 1,135 shares during the quarter. Auxier Asset Management's holdings in Automatic Data Processing were worth $1,938,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ADP. Norges Bank purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $455,993,000. Winslow Capital Management LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $396,714,000. Capital Research Global Investors grew its position in Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at about $342,942,000. Finally, Proficio Capital Partners LLC grew its position in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock traded down $1.57 on Wednesday, hitting $324.14. 1,157,681 shares of the company traded hands, compared to its average volume of 1,703,308. The stock has a market capitalization of $131.58 billion, a P/E ratio of 33.80, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.12. The business has a 50-day simple moving average of $302.14 and a 200 day simple moving average of $301.34.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 earnings per share. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.90%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio is presently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Christopher D'ambrosio sold 478 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,451 shares of company stock worth $743,024. Insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. Wall Street Zen downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. 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 report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, May 1st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and an average price target of $305.64.

Automatic Data Processing Company 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.