KCM Investment Advisors LLC Trims Stock Position in Automatic Data Processing (NASDAQ:ADP)

KCM Investment Advisors LLC cut its holdings in shares of Automatic Data Processing (NASDAQ:ADP) by 1.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 178,558 shares of the business services provider’s stock after selling 2,576 shares during the period. Automatic Data Processing comprises approximately 1.7% of KCM Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest holding. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $30,444,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Sugarloaf Wealth Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $27,000. Raab & Moskowitz Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at approximately $28,000. Cranbrook Wealth Management LLC grew its stake in Automatic Data Processing by 361.1% in the 4th quarter. Cranbrook Wealth Management LLC now owns 166 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 130 shares during the period. Pacitti Group Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $32,000. Finally, West Bancorporation Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth $33,000. Institutional investors own 80.30% of the company’s stock.

ADP stock traded up $8.28 during midday trading on Thursday, reaching $130.87. The stock had a trading volume of 680,183 shares, compared to its average volume of 3,984,798. Automatic Data Processing has a 52-week low of $103.11 and a 52-week high of $182.32. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $158.22 and its 200 day simple moving average is $164.86. The company has a market cap of $52.22 billion, a price-to-earnings ratio of 23.12, a price-to-earnings-growth ratio of 1.66 and a beta of 0.89.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.44 by $0.08. The firm had revenue of $3.67 billion for the quarter, compared to the consensus estimate of $3.69 billion. Automatic Data Processing had a net margin of 16.97% and a return on equity of 46.96%. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. During the same period last year, the firm posted $1.34 earnings per share. Sell-side analysts predict that Automatic Data Processing will post 6.07 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Friday, March 13th will be paid a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 2.78%. The ex-dividend date is Thursday, March 12th. Automatic Data Processing’s dividend payout ratio (DPR) is 66.79%.

In related news, VP John Ayala sold 6,484 shares of the company’s stock in a transaction dated Friday, January 17th. The shares were sold at an average price of $176.03, for a total value of $1,141,378.52. Following the completion of the sale, the vice president now owns 19,578 shares of the company’s stock, valued at $3,446,315.34. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Donald Weinstein sold 2,468 shares of the firm’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $180.00, for a total transaction of $444,240.00. Following the sale, the vice president now owns 26,578 shares of the company’s stock, valued at $4,784,040. The disclosure for this sale can be found here. Insiders sold a total of 14,528 shares of company stock worth $2,556,051 over the last three months. Corporate insiders own 0.31% of the company’s stock.

A number of research firms have weighed in on ADP. Credit Suisse Group restated a “buy” rating and set a $190.00 price objective on shares of Automatic Data Processing in a research report on Sunday, February 2nd. BidaskClub cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. Evercore ISI upgraded shares of Automatic Data Processing from an “in-line” rating to an “outperform” rating and set a $212.00 price target for the company in a research report on Wednesday, January 22nd. Moffett Nathanson downgraded shares of Automatic Data Processing from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 7th. Finally, ValuEngine raised shares of Automatic Data Processing from a “sell” rating to a “hold” rating in a research note on Tuesday, December 3rd. Eleven analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $181.90.

About Automatic Data Processing

Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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