Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by West Oak Capital LLC

West Oak Capital LLC reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,800 shares of the business services provider’s stock after selling 250 shares during the quarter. Automatic Data Processing accounts for about 1.7% of West Oak Capital LLC’s holdings, making the stock its 10th biggest position. West Oak Capital LLC’s holdings in Automatic Data Processing were worth $3,728,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing during the third quarter valued at about $25,000. Coppell Advisory Solutions LLC bought a new stake in Automatic Data Processing in the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Automatic Data Processing in the first quarter worth about $31,000. Coppell Advisory Solutions Corp. bought a new stake in Automatic Data Processing in the fourth quarter worth about $33,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in Automatic Data Processing in the third quarter worth about $34,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold 16,662 shares of company stock worth $4,094,554 in the last quarter. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Performance

ADP traded up $1.11 during midday trading on Thursday, hitting $249.44. 247,317 shares of the company traded hands, compared to its average volume of 1,884,961. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market capitalization of $102.47 billion, a PE ratio of 28.91, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The company’s 50-day moving average is $246.22 and its 200 day moving average is $238.91. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business earned $1.96 EPS. The business’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.25%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Analysts Set New Price Targets

ADP has been the subject of several recent research reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday. Mizuho boosted their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $253.08.

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.