Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mill Creek Capital Advisors LLC

Mill Creek Capital Advisors LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,566 shares of the business services provider’s stock after selling 35 shares during the period. Mill Creek Capital Advisors LLC’s holdings in Automatic Data Processing were worth $458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Accredited Investors Inc. lifted its stake in shares of Automatic Data Processing by 4,431.5% in the third 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. International Assets Investment Management LLC grew its holdings in shares of Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing during the third quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after buying an additional 479,145 shares during the period. Finally, State Street Corp boosted its holdings in shares of Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $306.93 on Tuesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. 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 stock has a market cap of $125.06 billion, a P/E ratio of 32.01, a PEG ratio of 3.60 and a beta of 0.79. The stock has a 50 day simple moving average of $297.20 and a 200 day simple moving average of $286.94.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent research reports. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research 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’s stock. According to MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $293.55.

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.