Steigerwald Gordon & Koch Inc. Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Steigerwald Gordon & Koch Inc. reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,784 shares of the business services provider’s stock after selling 824 shares during the period. Automatic Data Processing makes up 2.7% of Steigerwald Gordon & Koch Inc.’s portfolio, making the stock its 14th largest holding. Steigerwald Gordon & Koch Inc.’s holdings in Automatic Data Processing were worth $24,376,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Littlejohn Financial Services Inc. purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $708,000. CIBC Asset Management Inc boosted its stake in shares of Automatic Data Processing by 1.8% during the 4th quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock worth $45,647,000 after purchasing an additional 2,787 shares during the period. Toronto Dominion Bank boosted its stake in shares of Automatic Data Processing by 10.2% during the 4th quarter. Toronto Dominion Bank now owns 236,707 shares of the business services provider’s stock worth $69,290,000 after purchasing an additional 21,910 shares during the period. Proficio Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 42.8% during the 4th quarter. Proficio Capital Partners LLC now owns 3,725 shares of the business services provider’s stock worth $1,090,000 after purchasing an additional 1,117 shares during the period. Finally, Napatree Capital LLC boosted its stake in shares of Automatic Data Processing by 2.7% during the 4th quarter. Napatree Capital LLC now owns 3,199 shares of the business services provider’s stock worth $936,000 after purchasing an additional 84 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.1%

Shares of ADP opened at $326.21 on Thursday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $327.99. The company has a 50-day moving average of $305.14 and a 200 day moving average of $302.23. The firm has a market capitalization of $132.42 billion, a price-to-earnings ratio of 34.02, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the business posted $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.89%. Automatic Data Processing’s dividend payout ratio is currently 63.05%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on ADP shares. TD Securities lifted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. Finally, Wall Street Zen cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $305.64.

Insider Activity

In other news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,451 shares of company stock worth $743,024. 0.21% 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.