Dynamic Advisor Solutions LLC Has $2.22 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Dynamic Advisor Solutions LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,597 shares of the business services provider’s stock after selling 645 shares during the period. Dynamic Advisor Solutions LLC’s holdings in Automatic Data Processing were worth $2,224,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. State Street Corp lifted its position in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the period. Geode Capital Management LLC raised its stake in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after purchasing an additional 41,709 shares in the last quarter. Accredited Investors Inc. lifted its position in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its stake in Automatic Data Processing by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock worth $623,419,000 after buying an additional 17,717 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $297.10 on Friday. The company has a 50 day simple moving average of $297.13 and a 200 day simple moving average of $282.10. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The firm has a market cap of $121.06 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the firm earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Insider Activity

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ADP. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Barclays raised their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $289.91.

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.