Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Lowered by Natixis Advisors L.P.

Natixis Advisors L.P. trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 14.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 193,172 shares of the business services provider’s stock after selling 32,303 shares during the period. Natixis Advisors L.P.’s holdings in Automatic Data Processing were worth $45,003,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ADP. OFI Invest Asset Management acquired a new position in Automatic Data Processing during the third quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the 4th quarter worth about $35,000. Evolution Advisers Inc. acquired a new position in Automatic Data Processing in the 4th quarter worth about $41,000. Raleigh Capital Management Inc. increased its position in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after purchasing an additional 89 shares during the last quarter. Finally, Bfsg LLC acquired a new position in Automatic Data Processing in the 4th quarter worth about $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

NASDAQ:ADP traded down $0.14 during mid-day trading on Friday, hitting $241.89. 1,491,532 shares of the company’s stock traded hands, compared to its average volume of 1,451,137. The firm has a 50 day moving average of $245.91 and a two-hundred day moving average of $239.13. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The firm has a market capitalization of $99.37 billion, a price-to-earnings ratio of 27.00, a price-to-earnings-growth ratio of 2.27 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company earned $2.52 EPS. The company’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,829 shares of company stock worth $965,274. 0.26% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ADP. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Barclays upped their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. decreased their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Finally, Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $255.42.

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.