Vaughan David Investments LLC IL Has $5.95 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Vaughan David Investments LLC IL trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,321 shares of the business services provider’s stock after selling 1,167 shares during the quarter. Vaughan David Investments LLC IL’s holdings in Automatic Data Processing were worth $5,949,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the third quarter worth approximately $209,000. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new position in Automatic Data Processing during the third quarter valued at approximately $470,000. Finally, Dash Acquisitions Inc. raised its position in Automatic Data Processing by 5.6% during the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two 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 stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $293.55.

Insider Activity

In related news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.5 %

ADP opened at $312.20 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $314.06. 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’s fifty day moving average price is $299.03 and its two-hundred day moving average price is $290.89. The company has a market capitalization of $127.21 billion, a P/E ratio of 32.55, a P/E/G ratio of 3.62 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio is presently 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.