Auxier Asset Management Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Auxier Asset Management lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,675 shares of the business services provider’s stock after selling 102 shares during the quarter. Auxier Asset Management’s holdings in Automatic Data Processing were worth $1,832,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Gryphon Financial Partners LLC lifted its position in shares of Automatic Data Processing by 105.2% during the fourth quarter. Gryphon Financial Partners LLC now owns 2,017 shares of the business services provider’s stock valued at $467,000 after purchasing an additional 1,034 shares in the last quarter. Assetmark Inc. lifted its position in shares of Automatic Data Processing by 9.5% during the 4th quarter. Assetmark Inc. now owns 2,892 shares of the business services provider’s stock worth $674,000 after buying an additional 251 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Automatic Data Processing by 4.1% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,598 shares of the business services provider’s stock worth $372,000 after buying an additional 63 shares during the last quarter. SageView Advisory Group LLC grew its holdings in shares of Automatic Data Processing by 140.6% in the fourth quarter. SageView Advisory Group LLC now owns 2,399 shares of the business services provider’s stock valued at $572,000 after acquiring an additional 1,402 shares in the last quarter. Finally, Orion Portfolio Solutions LLC increased its position in shares of Automatic Data Processing by 4.6% during the fourth quarter. Orion Portfolio Solutions LLC now owns 12,977 shares of the business services provider’s stock valued at $3,072,000 after acquiring an additional 573 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $276.41 on Friday. The firm’s 50 day moving average is $264.76 and its 200 day moving average is $251.51. The stock has a market capitalization of $113.13 billion, a P/E ratio of 30.85, a PEG ratio of 3.02 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $281.54. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.66.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a return on equity of 89.20% and a net margin of 19.54%. The firm had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business posted $1.89 earnings per share. The business’s quarterly revenue was up 7.2% on a year-over-year basis. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, September 13th. This represents a $5.60 annualized dividend and a yield of 2.03%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Upgrades and Downgrades

ADP has been the topic of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Barclays boosted their price target on shares of Automatic Data Processing from $282.00 to $310.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing from $271.00 to $287.00 and gave the company a “hold” rating in a research note on Thursday, August 1st. Finally, Bank of America raised their price target on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $265.36.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the transaction, the vice president now directly owns 41,696 shares in the company, valued at $11,440,548.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Michael A. Bonarti sold 26,442 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $270.96, for a total transaction of $7,164,724.32. Following the completion of the transaction, the vice president now directly owns 88,426 shares in the company, valued at $23,959,908.96. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Don Mcguire sold 3,179 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total value of $872,254.02. Following the completion of the sale, the vice president now directly owns 41,696 shares in the company, valued at approximately $11,440,548.48. The disclosure for this sale can be found here. Insiders sold 58,817 shares of company stock valued at $15,999,208 in the last quarter. 0.26% of the stock is currently owned by corporate 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.