Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 55,006 shares of the business services provider's stock after selling 2,010 shares during the quarter. Public Employees Retirement Association of Colorado's holdings in Automatic Data Processing were worth $16,102,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Cyrus J. Lawrence LLC increased its holdings in Automatic Data Processing by 121.8% during the 4th 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 period. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at $37,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $37,000. HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth about $41,000. Finally, Kieckhefer Group LLC bought a new position in Automatic Data Processing during the 4th quarter worth about $42,000. Institutional investors own 80.03% of the company's stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company's stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,775 shares of company stock valued at $1,447,893. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP traded up $4.88 during trading hours on Friday, reaching $303.57. The stock had a trading volume of 1,720,848 shares, compared to its average volume of 1,687,165. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a fifty day moving average of $298.19 and a 200 day moving average of $298.69. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market cap of $123.69 billion, a P/E ratio of 31.65, 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 earnings per share for the quarter, topping analysts' consensus estimates of $2.97 by $0.09. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.88 earnings per share. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business 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 dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 63.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADP. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Stifel Nicolaus raised their target price on shares of Automatic Data Processing to $305.00 and gave the company a "buy" rating in a research note on Friday. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, TD Securities upped their target price on Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research report on Thursday. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $303.55.

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.