Formidable Asset Management LLC Has $1.23 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Formidable Asset Management LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,186 shares of the business services provider’s stock after selling 114 shares during the quarter. Formidable Asset Management LLC’s holdings in Automatic Data Processing were worth $1,225,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of the company. GF Fund Management CO. LTD. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $22,605,000. Pinney & Scofield Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $132,000. Parr Mcknight Wealth Management Group LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $4,986,000. Public Employees Retirement System of Ohio bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $52,493,000. Finally, Pacific Point Advisors LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $1,348,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 in the last quarter. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP opened at $321.09 on Friday. The stock has a market capitalization of $130.34 billion, a P/E ratio of 33.48, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $323.66. The company has a 50 day moving average of $301.13 and a 200-day moving average of $301.11. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period last year, the business earned $2.88 earnings per share. The firm’s revenue was up 5.7% on a year-over-year basis. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.92%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is 63.05%.

Wall Street Analysts Forecast Growth

ADP has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. TD Securities upped their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday. Stifel Nicolaus upped their target price on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Barclays upped their target price 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. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $305.64.

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.