Mitchell Mcleod Pugh & Williams Inc. Sells 74 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mitchell Mcleod Pugh & Williams Inc. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,998 shares of the business services provider’s stock after selling 74 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Automatic Data Processing were worth $2,096,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $25,000. Fortitude Family Office LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $35,000. Raleigh Capital Management Inc. raised its position in shares of Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after acquiring an additional 89 shares during the last quarter. Evolution Advisers Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $41,000. Finally, Bfsg LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $0.67 during trading hours on Monday, hitting $243.74. 293,278 shares of the stock were exchanged, compared to its average volume of 1,774,839. 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 $100.13 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The company’s fifty day simple moving average is $246.70 and its two-hundred day simple moving average is $239.12. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued 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. The firm 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 business’s revenue was up 6.3% on a year-over-year basis. During the same period last year, the company earned $1.96 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS 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. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 65.19%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada reissued 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. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Mizuho upped their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two equities research 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $258.36.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 15,162 shares of company stock valued at $3,741,859. Company insiders own 0.26% of the company’s stock.

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.