Tidal Investments LLC Sells 9,317 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tidal Investments LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 27.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 24,960 shares of the business services provider's stock after selling 9,317 shares during the period. Tidal Investments LLC's holdings in Automatic Data Processing were worth $7,307,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ADP. State of Wyoming boosted its holdings in Automatic Data Processing by 26.1% in the 4th quarter. State of Wyoming now owns 449 shares of the business services provider's stock valued at $131,000 after purchasing an additional 93 shares during the period. Toronto Dominion Bank increased its position in shares of Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider's stock worth $69,290,000 after purchasing an additional 21,910 shares in the last quarter. Scissortail Wealth Management LLC increased its position in shares of Automatic Data Processing by 24,833.3% during the 4th quarter. Scissortail Wealth Management LLC now owns 748 shares of the business services provider's stock worth $219,000 after purchasing an additional 745 shares in the last quarter. Sentinus LLC increased its position in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Finally, Snowden Capital Advisors LLC grew its holdings in Automatic Data Processing by 1.0% during the 4th quarter. Snowden Capital Advisors LLC now owns 46,695 shares of the business services provider's stock worth $13,741,000 after acquiring an additional 448 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADP shares. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. TD Securities raised their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a report on Wednesday. Stifel Nicolaus raised 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. Finally, Wall Street Zen lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus price target of $305.64.

Insiders Place Their Bets

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

Automatic Data Processing Stock Performance

ADP stock traded down $0.56 during midday trading on Friday, reaching $321.09. 962,422 shares of the company were exchanged, compared to its average volume of 1,705,331. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average price of $301.13 and a two-hundred day moving average price of $301.08. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $323.66. The firm has a market capitalization of $130.34 billion, a price-to-earnings ratio of 33.48, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

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 EPS for the quarter, topping analysts' consensus estimates 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 firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same period in the previous year, the business posted $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.92%. Automatic Data Processing's dividend payout ratio (DPR) is 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.