Steigerwald Gordon & Koch Inc. Has $24.38 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Steigerwald Gordon & Koch Inc. lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 79,784 shares of the business services provider's stock after selling 824 shares during the period. Automatic Data Processing makes up about 2.7% of Steigerwald Gordon & Koch Inc.'s portfolio, making the stock its 14th largest holding. Steigerwald Gordon & Koch Inc.'s holdings in Automatic Data Processing were worth $24,376,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ADP. Main Street Group LTD grew its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider's stock worth $33,000 after purchasing an additional 38 shares during the period. Cyrus J. Lawrence LLC boosted its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after purchasing an additional 67 shares during the last quarter. Banque de Luxembourg S.A. bought a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock worth $743,024 over the last 90 days. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. TD Securities increased their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday, May 21st. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday. Finally, UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $305.64.

Automatic Data Processing Stock Up 0.2%

NASDAQ:ADP traded up $0.58 during mid-day trading on Friday, reaching $326.81. The company's stock had a trading volume of 1,183,333 shares, compared to its average volume of 1,708,223. The firm has a market capitalization of $132.66 billion, a PE ratio of 34.08, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $305.96 and a 200-day moving average of $302.64. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the prior year, the company earned $2.88 EPS. Automatic Data Processing's quarterly revenue was up 5.7% on a year-over-year basis. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.88%. Automatic Data Processing's dividend payout ratio is currently 63.05%.

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.