Calamos Advisors LLC Reduces Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Calamos Advisors LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the fourth quarter, Holdings Channel.com reports. The firm owned 107,346 shares of the business services provider’s stock after selling 1,402 shares during the quarter. Calamos Advisors LLC’s holdings in Automatic Data Processing were worth $25,008,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Financial Management Professionals Inc. boosted its position in shares of Automatic Data Processing by 34.7% during the third quarter. Financial Management Professionals Inc. now owns 159 shares of the business services provider’s stock valued at $38,000 after buying an additional 41 shares during the last quarter. Argus Investors Counsel Inc. boosted its position in shares of 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 buying an additional 43 shares during the last quarter. Trust Co. of Toledo NA OH boosted its position 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 worth $1,995,000 after purchasing an additional 45 shares during the last quarter. Signet Financial Management LLC boosted its position in Automatic Data Processing by 1.3% in the fourth quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares during the last quarter. Finally, Schechter Investment Advisors LLC boosted its position in Automatic Data Processing by 1.1% in the third 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 during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Evercore ISI raised their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ ADP traded up $0.98 during trading hours on Friday, hitting $242.97. 189,344 shares of the company traded hands, compared to its average volume of 1,797,402. The stock has a market capitalization of $99.81 billion, a price-to-earnings ratio of 28.17, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company’s 50 day moving average price is $247.36 and its 200 day moving average price is $239.20. 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 posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business earned $1.96 EPS. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now directly 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 is available at this hyperlink. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 in the last quarter. 0.26% of the stock is owned by company insiders.

Automatic Data Processing 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.