Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Reduced by International Assets Investment Management LLC

International Assets Investment Management LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 99.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,876 shares of the business services provider’s stock after selling 1,189,711 shares during the period. International Assets Investment Management LLC’s holdings in Automatic Data Processing were worth $1,412,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in shares of Automatic Data Processing during the 2nd quarter worth $27,000. Dunhill Financial LLC raised its holdings in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter worth $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 1.2 %

Shares of ADP stock opened at $291.89 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The firm’s fifty day simple moving average is $298.43 and its 200 day simple moving average is $277.76. The firm has a market capitalization of $118.93 billion, a P/E ratio of 31.15, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on ADP shares. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada boosted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. TD Cowen lifted their price target on shares of 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 upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $289.91.

Insider Activity

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 41,062 shares of company stock worth $12,299,550. Company insiders own 0.21% of the company’s stock.

About Automatic Data Processing

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.