Tandem Investment Advisors Inc. Has $46.48 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tandem Investment Advisors Inc. lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 167,946 shares of the business services provider’s stock after selling 4,915 shares during the period. Automatic Data Processing comprises approximately 1.8% of Tandem Investment Advisors Inc.’s holdings, making the stock its 27th biggest holding. Tandem Investment Advisors Inc.’s holdings in Automatic Data Processing were worth $46,476,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Advisory Alpha LLC lifted its position in shares of Automatic Data Processing by 4.4% during the first quarter. Advisory Alpha LLC now owns 1,316 shares of the business services provider’s stock worth $329,000 after purchasing an additional 55 shares in the last quarter. Advisory Services Network LLC increased its stake in shares of Automatic Data Processing by 10.8% in the 1st quarter. Advisory Services Network LLC now owns 16,991 shares of the business services provider’s stock valued at $4,243,000 after buying an additional 1,654 shares during the period. Envestnet Portfolio Solutions Inc. boosted its stake in Automatic Data Processing by 49.2% during the 1st quarter. Envestnet Portfolio Solutions Inc. now owns 24,009 shares of the business services provider’s stock worth $5,996,000 after acquiring an additional 7,921 shares during the last quarter. Empowered Funds LLC increased its stake in Automatic Data Processing by 50.7% in the first quarter. Empowered Funds LLC now owns 17,304 shares of the business services provider’s stock valued at $4,322,000 after purchasing an additional 5,818 shares in the last quarter. Finally, SG Americas Securities LLC boosted its position in shares of Automatic Data Processing by 195.1% during the first quarter. SG Americas Securities LLC now owns 51,607 shares of the business services provider’s stock worth $12,888,000 after purchasing an additional 34,118 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the stock in a transaction that occurred on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the sale, the director now directly owns 36,741 shares of the company’s stock, valued at $9,899,862.45. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 846 shares of Automatic Data Processing stock in a transaction that occurred on Friday, August 23rd. The shares were sold at an average price of $270.60, for a total transaction of $228,927.60. Following the transaction, the vice president now owns 10,410 shares of the company’s stock, valued at $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 available through the SEC website. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction that occurred on Friday, September 6th. The shares were sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This represents 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 58,817 shares of company stock valued at $15,999,208 over the last ninety days. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $304.85 on Friday. The company’s 50 day simple moving average is $282.92 and its 200 day simple moving average is $261.11. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $223.28 and a 1 year high of $306.71. The stock has a market capitalization of $124.21 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 3.37 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 earnings per share. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced 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 represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, December 13th. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s payout ratio is presently 59.77%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Thursday, September 19th. Royal Bank of Canada raised their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. 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 note on Friday, November 1st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the stock an “underweight” rating in a research report on Tuesday, August 20th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $289.91.

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.