Automatic Data Processing, Inc. (NASDAQ:ADP) is Cardinal Capital Management’s 9th Largest Position

Cardinal Capital Management reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 42,769 shares of the business services provider’s stock after selling 143 shares during the period. Automatic Data Processing accounts for 2.0% of Cardinal Capital Management’s investment portfolio, making the stock its 9th biggest holding. Cardinal Capital Management’s holdings in Automatic Data Processing were worth $12,585,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the stock. Creative Planning lifted its stake in Automatic Data Processing by 2.8% in the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after acquiring an additional 3,456 shares during the last quarter. Veracity Capital LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $204,000. OLD National Bancorp IN boosted its holdings in Automatic Data Processing by 4.7% in the third quarter. OLD National Bancorp IN now owns 12,692 shares of the business services provider’s stock worth $3,512,000 after purchasing an additional 567 shares in the last quarter. Arlington Partners LLC increased its position in Automatic Data Processing by 14.3% during the third quarter. Arlington Partners LLC now owns 14,664 shares of the business services provider’s stock worth $4,058,000 after buying an additional 1,829 shares during the last quarter. Finally, Bellecapital International Ltd. raised its holdings in Automatic Data Processing by 0.5% during the third quarter. Bellecapital International Ltd. now owns 24,425 shares of the business services provider’s stock valued at $6,759,000 after buying an additional 131 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.7 %

NASDAQ ADP opened at $308.15 on Tuesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. 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 $125.56 billion, a PE ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The firm has a 50-day simple moving average of $297.56 and a 200 day simple moving average of $288.77.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity

In other Automatic Data Processing news, 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 value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on ADP shares. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Company 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.