TCTC Holdings LLC Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

TCTC Holdings LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,787 shares of the business services provider’s stock after selling 61 shares during the period. TCTC Holdings LLC’s holdings in Automatic Data Processing were worth $10,183,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Harbour Investments Inc. lifted its holdings in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares in the last quarter. Natixis Advisors LLC lifted its holdings in Automatic Data Processing by 8.2% in the 3rd quarter. Natixis Advisors LLC now owns 282,639 shares of the business services provider’s stock valued at $78,215,000 after purchasing an additional 21,420 shares in the last quarter. Peterson Financial Group Inc. purchased a new position in Automatic Data Processing in the 3rd quarter valued at about $50,000. Concord Asset Management LLC VA lifted its holdings in Automatic Data Processing by 14.2% in the 3rd quarter. Concord Asset Management LLC VA now owns 7,782 shares of the business services provider’s stock valued at $2,153,000 after purchasing an additional 967 shares in the last quarter. Finally, Claro Advisors LLC lifted its holdings in Automatic Data Processing by 42.0% in the 3rd quarter. Claro Advisors LLC now owns 1,315 shares of the business services provider’s stock valued at $364,000 after purchasing an additional 389 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group upped their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Stock Up 0.4 %

ADP opened at $291.76 on Monday. The firm has a 50 day moving average price of $302.32 and a 200 day moving average price of $294.74. The company has a market cap of $118.88 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 in the last 90 days. 0.21% of the stock is owned by company insiders.

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.