CRA Financial Services LLC Has $273,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

CRA Financial Services LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 29.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,172 shares of the business services provider’s stock after selling 484 shares during the period. CRA Financial Services LLC’s holdings in Automatic Data Processing were worth $273,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ADP. Argus Investors Counsel Inc. lifted its position in shares of Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after purchasing an additional 43 shares in the last quarter. Signet Financial Management LLC lifted its position in shares of 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 in the last quarter. Trust Co. of Toledo NA OH lifted its position in shares of 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 in the last quarter. PFS Investments Inc. lifted its position in shares of Automatic Data Processing by 3.4% in the fourth quarter. PFS Investments Inc. now owns 1,396 shares of the business services provider’s stock worth $333,000 after purchasing an additional 46 shares in the last quarter. Finally, Schechter Investment Advisors LLC lifted its position in shares of 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 in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have issued reports on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $243.31 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s fifty day moving average price is $247.22 and its two-hundred day moving average price is $239.22. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a market cap of $99.95 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 0.78.

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

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction dated 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 directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,162 shares of company stock worth $3,741,859. Corporate 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.