Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Reduced by Nichols & Pratt Advisers LLP MA

Nichols & Pratt Advisers LLP MA decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 320,507 shares of the business services provider’s stock after selling 6,407 shares during the period. Automatic Data Processing accounts for approximately 6.3% of Nichols & Pratt Advisers LLP MA’s investment portfolio, making the stock its 2nd largest position. Nichols & Pratt Advisers LLP MA owned 0.08% of Automatic Data Processing worth $93,822,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Accredited Investors Inc. lifted its stake in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares in the last quarter. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the period. Holocene Advisors LP acquired a new position in Automatic Data Processing in the 3rd quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, State Street Corp raised its stake in shares of Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 1.2 %

NASDAQ:ADP opened at $315.18 on Friday. The company has a market capitalization of $128.42 billion, a PE ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $316.46. The stock’s 50 day moving average price is $300.66 and its 200 day moving average price is $291.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on 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. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 in the last three months. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing 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.