Voloridge Investment Management LLC Has $77.37 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Voloridge Investment Management LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 41.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 264,300 shares of the business services provider's stock after selling 185,536 shares during the period. Voloridge Investment Management LLC owned about 0.06% of Automatic Data Processing worth $77,369,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. grew its position in Automatic Data Processing by 0.7% in the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock valued at $11,923,265,000 after acquiring an additional 277,324 shares during the period. Geode Capital Management LLC grew its position in Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock valued at $3,098,305,000 after acquiring an additional 65,965 shares during the period. Northern Trust Corp grew its position in Automatic Data Processing by 17.1% in the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after acquiring an additional 902,354 shares during the period. Capital Research Global Investors grew its position in Automatic Data Processing by 26.9% in the fourth 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 acquiring an additional 1,299,390 shares during the period. Finally, Invesco Ltd. grew its position in Automatic Data Processing by 6.0% in the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after acquiring an additional 219,032 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Wall Street Zen cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group boosted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. TD Securities boosted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Stifel Nicolaus boosted their price objective on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research note on Friday, May 2nd. One research 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, the company currently has a consensus rating of "Hold" and an average target price of $305.64.

Automatic Data Processing Trading Down 0.2%

NASDAQ:ADP traded down $0.56 during mid-day trading on Friday, hitting $321.09. The company had a trading volume of 962,422 shares, compared to its average volume of 1,705,331. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $323.66. The business's fifty day moving average is $301.13 and its two-hundred day moving average is $301.08. The firm has a market cap of $130.34 billion, a P/E ratio of 33.48, a P/E/G 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the company earned $2.88 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, research 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 disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.92%. Automatic Data Processing's payout ratio is 63.05%.

Insider Activity

In other 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 sale, 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 sale, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $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. Insiders sold a total of 2,451 shares of company stock valued at $743,024 over the last three months. Insiders own 0.21% of the company's stock.

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.