Hendershot Investments Inc. Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hendershot Investments Inc. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 69,365 shares of the business services provider’s stock after selling 88 shares during the quarter. Automatic Data Processing comprises 2.8% of Hendershot Investments Inc.’s holdings, making the stock its 10th largest holding. Hendershot Investments Inc.’s holdings in Automatic Data Processing were worth $20,305,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of ADP. CWM LLC increased its holdings in shares of Automatic Data Processing by 8.7% during the third quarter. CWM LLC now owns 19,941 shares of the business services provider’s stock valued at $5,518,000 after acquiring an additional 1,603 shares in the last quarter. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% during the 3rd 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. Wedmont Private Capital increased its stake in Automatic Data Processing by 6.6% during the 3rd quarter. Wedmont Private Capital now owns 3,747 shares of the business services provider’s stock valued at $1,057,000 after purchasing an additional 231 shares in the last quarter. Cypress Wealth Services LLC lifted its stake in shares of Automatic Data Processing by 4.8% in the third quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock worth $248,000 after buying an additional 41 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC purchased a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $204,000. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was 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 in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Down 1.0 %

Shares of Automatic Data Processing stock opened at $305.97 on Friday. The company has a fifty day moving average of $297.20 and a 200 day moving average of $286.39. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. The company has a market capitalization of $124.67 billion, a P/E ratio of 31.91, a P/E/G ratio of 3.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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 9.94 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 Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on ADP shares. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $293.55.

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.