Yousif Capital Management LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Yousif Capital Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,367 shares of the business services provider’s stock after selling 6,019 shares during the period. Yousif Capital Management LLC’s holdings in Automatic Data Processing were worth $20,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Heritage Investment Group Inc. raised its stake in shares of Automatic Data Processing by 1.9% during the 4th quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock valued at $513,000 after buying an additional 41 shares during the last quarter. Argus Investors Counsel Inc. raised its position in Automatic Data Processing by 0.5% during the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after acquiring an additional 43 shares in the last quarter. Trust Co. of Toledo NA OH lifted its holdings in Automatic Data Processing by 0.5% in the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after acquiring an additional 45 shares during the period. Schechter Investment Advisors LLC boosted its position in Automatic Data Processing by 1.1% in the 3rd quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock worth $999,000 after purchasing an additional 46 shares in the last quarter. Finally, Simon Quick Advisors LLC grew its stake in shares of Automatic Data Processing by 1.0% during the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock worth $1,067,000 after purchasing an additional 47 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP traded up $0.53 during trading hours on Tuesday, hitting $246.84. 1,661,476 shares of the stock were exchanged, compared to its average volume of 1,807,928. The stock’s 50-day moving average price is $247.09 and its two-hundred day moving average price is $239.21. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $101.40 billion, a price-to-earnings ratio of 28.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.27%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on ADP shares. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Evercore ISI boosted 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $254.58.

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 on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing 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 sale, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 in the last ninety days. Insiders own 0.26% of the company’s stock.

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.