MeadowBrook Investment Advisors LLC Has $1.92 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

MeadowBrook Investment Advisors LLC cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,938 shares of the business services provider’s stock after selling 278 shares during the period. Automatic Data Processing comprises about 1.7% of MeadowBrook Investment Advisors LLC’s portfolio, making the stock its 14th largest position. MeadowBrook Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,920,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. Kiely Wealth Advisory Group Inc. bought a new position in shares of Automatic Data Processing during the second quarter worth about $27,000. Hexagon Capital Partners LLC increased its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Crewe Advisors LLC bought a new position in Automatic Data Processing in the 1st quarter valued at about $33,000. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the third quarter worth approximately $35,000. Finally, Pathway Financial Advisers LLC bought a new stake in shares of Automatic Data Processing in the first quarter valued at about $36,000. 80.03% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, VP David Kwon sold 846 shares of the firm’s stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total value of $228,927.60. Following the completion of the transaction, the vice president now directly owns 10,410 shares of the company’s stock, valued at approximately $2,816,946. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,792 shares of company stock valued at $27,691,708 in the last 90 days. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Thursday, September 19th. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Barclays raised their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. 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 report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Down 1.0 %

Automatic Data Processing stock traded down $3.17 during mid-day trading on Thursday, reaching $304.33. The stock had a trading volume of 180,681 shares, compared to its average volume of 1,627,797. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $227.12 and a fifty-two week high of $309.37. The stock’s 50-day simple moving average is $286.03 and its 200-day simple moving average is $263.23. The firm has a market capitalization of $124.00 billion, a PE ratio of 32.82, a price-to-earnings-growth ratio of 3.58 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.08 EPS. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 1st. Investors of record on Friday, December 13th will be given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date is Friday, December 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.