Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Overbrook Management Corp

Overbrook Management Corp lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 6,553 shares of the business services provider’s stock after selling 79 shares during the quarter. Overbrook Management Corp’s holdings in Automatic Data Processing were worth $1,527,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Evolution Advisers Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $41,000. Stevens Capital Management LP purchased a new position in Automatic Data Processing in the fourth quarter valued at about $886,000. Abbrea Capital LLC raised its position in Automatic Data Processing by 4.0% in the fourth quarter. Abbrea Capital LLC now owns 5,021 shares of the business services provider’s stock valued at $1,177,000 after purchasing an additional 192 shares during the period. Syon Capital LLC raised its position in Automatic Data Processing by 19.8% in the fourth quarter. Syon Capital LLC now owns 4,515 shares of the business services provider’s stock valued at $1,052,000 after purchasing an additional 747 shares during the period. Finally, Meritage Portfolio Management purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $424,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $254.58.

Insider Activity

In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. In the last 90 days, insiders sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $243.07 on Friday. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The stock has a market cap of $99.85 billion, a price-to-earnings ratio of 28.30, a PEG ratio of 2.31 and a beta of 0.78. The stock’s 50 day moving average price is $246.70 and its 200 day moving average price is $239.26. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company earned $1.96 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.