Tandem Capital Management Corp ADV Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tandem Capital Management Corp ADV reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,521 shares of the business services provider’s stock after selling 56 shares during the quarter. Tandem Capital Management Corp ADV’s holdings in Automatic Data Processing were worth $445,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the company. Czech National Bank raised its holdings in Automatic Data Processing by 6.5% in the 3rd quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock valued at $22,989,000 after acquiring an additional 5,077 shares during the last quarter. GAMMA Investing LLC raised its holdings in Automatic Data Processing by 23.6% in the 3rd quarter. GAMMA Investing LLC now owns 7,418 shares of the business services provider’s stock valued at $2,053,000 after acquiring an additional 1,415 shares during the last quarter. Diversified Trust Co raised its holdings in Automatic Data Processing by 15.5% in the 3rd quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock valued at $3,473,000 after acquiring an additional 1,683 shares during the last quarter. Miracle Mile Advisors LLC raised its holdings in Automatic Data Processing by 16.3% in the 3rd quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock valued at $623,000 after acquiring an additional 316 shares during the last quarter. Finally, McLean Asset Management Corp acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $219,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the firm’s 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 owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. UBS Group increased 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. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Mizuho raised their price target 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. Two 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 MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $307.32 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $125.22 billion, a P/E ratio of 32.05, a PEG ratio of 3.52 and a beta of 0.79. The company has a 50 day moving average price of $297.16 and a 200 day moving average price of $284.84. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. 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.