E Fund Management Co. Ltd. Has $954,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

E Fund Management Co. Ltd. trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,096 shares of the business services provider’s stock after selling 434 shares during the period. E Fund Management Co. Ltd.’s holdings in Automatic Data Processing were worth $954,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing in the 3rd quarter valued at $392,000. Americana Partners LLC increased its stake in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after acquiring an additional 660 shares during the period. Everence Capital Management Inc. raised its position in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC lifted its stake in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $1,635,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of several analyst reports. Barclays lifted their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a report on Thursday, May 2nd. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $255.42.

Insider Activity

In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,966 shares of company stock valued at $749,524. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Down 0.9 %

ADP traded down $2.18 during trading on Wednesday, hitting $242.94. The company had a trading volume of 1,133,452 shares, compared to its average volume of 1,774,157. The company has a market capitalization of $99.43 billion, a PE ratio of 27.11, a PEG ratio of 2.30 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm’s 50-day moving average price is $245.29 and its 200 day moving average price is $238.95.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm had revenue of $5.30 billion for the quarter, compared to analysts’ expectations of $5.22 billion. During the same quarter in the previous year, the business posted $2.52 EPS. The business’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

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.