Strs Ohio Sells 4,593 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Strs Ohio trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 170,403 shares of the business services provider's stock after selling 4,593 shares during the quarter. Strs Ohio's holdings in Automatic Data Processing were worth $39,698,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the third quarter valued at about $25,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing in the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing in the first quarter worth about $31,000. Coppell Advisory Solutions Corp. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $33,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in Automatic Data Processing in the third quarter worth about $34,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company's stock, valued at approximately $4,876,970. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Automatic Data Processing news, VP John Ayala sold 1,500 shares of the firm's stock in a transaction on Tuesday, January 16th. The stock was sold at an average price of $235.13, for a total transaction of $352,695.00. Following the completion of the sale, the vice president now owns 19,183 shares of the company's stock, valued at approximately $4,510,498.79. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of the firm's stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company's stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last 90 days, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is owned by insiders.

Analysts Set New Price Targets

ADP has been the subject of a number of research reports. Wolfe Research upgraded Automatic Data Processing from an "underperform" rating to a "peer perform" rating in a research report on Thursday, January 4th. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an "underperform" rating in a research report on Tuesday, March 26th. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Tuesday, March 19th. Royal Bank of Canada restated a "sector perform" rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Mizuho boosted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $254.58.

Automatic Data Processing Stock Up 0.1 %

Shares of ADP traded up $0.23 on Monday, hitting $244.08. The company's stock had a trading volume of 1,299,437 shares, compared to its average volume of 1,838,426. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm's fifty day moving average price is $247.82 and its 200-day moving average price is $239.13. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The firm has a market capitalization of $100.27 billion, a price-to-earnings ratio of 28.41, a P/E/G ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion for the quarter, compared to analysts' expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 EPS. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. The ex-dividend date is Friday, June 14th. Automatic Data Processing's payout ratio is presently 65.19%.

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.