Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Decreased by Hardman Johnston Global Advisors LLC

Hardman Johnston Global Advisors LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 123,859 shares of the business services provider’s stock after selling 3,919 shares during the period. Automatic Data Processing makes up about 1.5% of Hardman Johnston Global Advisors LLC’s portfolio, making the stock its 22nd largest holding. Hardman Johnston Global Advisors LLC’s holdings in Automatic Data Processing were worth $36,257,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Accredited Investors Inc. boosted its position in shares of Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the period. Holocene Advisors LP purchased a new position in Automatic Data Processing during the third quarter valued at approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake 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 worth $172,497,000 after acquiring an additional 479,145 shares during the last quarter. State Street Corp raised its stake in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after purchasing an additional 424,328 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in Automatic Data Processing by 2.8% in the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after acquiring an additional 286,080 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays lifted their target price 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 Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, TD Cowen raised their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $310.76 on Monday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The company has a market cap of $126.62 billion, a PE ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average is $298.72 and its two-hundred day moving average is $290.54.

Automatic Data Processing (NASDAQ:ADP) last issued its 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%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

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.