Bey Douglas LLC Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bey Douglas LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,987 shares of the business services provider’s stock after selling 71 shares during the period. Automatic Data Processing makes up about 2.8% of Bey Douglas LLC’s portfolio, making the stock its 17th largest holding. Bey Douglas LLC’s holdings in Automatic Data Processing were worth $3,216,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Exchange Traded Concepts LLC raised its holdings in Automatic Data Processing by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock valued at $1,278,000 after acquiring an additional 861 shares during the last quarter. Creative Planning raised its position in Automatic Data Processing by 2.8% in the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in shares of Automatic Data Processing by 11.4% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,542 shares of the business services provider’s stock valued at $6,792,000 after purchasing an additional 2,504 shares during the last quarter. Culbertson A N & Co. Inc. grew its holdings in shares of Automatic Data Processing by 3.5% during the 3rd quarter. Culbertson A N & Co. Inc. now owns 25,153 shares of the business services provider’s stock worth $6,961,000 after purchasing an additional 859 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $827,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have commented on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $293.55.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $310.22 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a market capitalization of $126.40 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The business’s fifty day moving average price is $297.32 and its 200 day moving average price is $287.85.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. Automatic Data Processing’s payout ratio is currently 64.23%.

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.