Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Ifrah Financial Services Inc.

Ifrah Financial Services Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.3% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,361 shares of the business services provider’s stock after selling 123 shares during the period. Ifrah Financial Services Inc.’s holdings in Automatic Data Processing were worth $317,000 at the end of the most recent reporting period.

Other institutional investors have 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 worth $513,000 after purchasing an additional 41 shares in the last quarter. Argus Investors Counsel Inc. lifted its stake in 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 valued at $2,065,000 after acquiring an additional 43 shares during the last quarter. Schechter Investment Advisors LLC grew 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 acquiring an additional 46 shares in the last quarter. Simon Quick Advisors LLC raised its holdings 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 valued at $1,067,000 after purchasing an additional 47 shares in the last quarter. Finally, Allworth Financial LP boosted its holdings in Automatic Data Processing by 0.7% in the third quarter. Allworth Financial LP now owns 6,886 shares of the business services provider’s stock worth $1,657,000 after purchasing an additional 48 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock traded down $0.14 during mid-day trading on Friday, reaching $241.89. The stock had a trading volume of 1,491,532 shares, compared to its average volume of 1,451,137. The firm has a market cap of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84. The firm’s 50 day simple moving average is $245.63 and its 200 day simple moving average is $239.08.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The business had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.52 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm 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 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the firm’s stock in a transaction dated Tuesday, February 6th. The shares were 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 owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares in the company, valued at $4,380,645. 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 firm’s stock in a transaction dated Tuesday, February 6th. The shares were 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 owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 3,829 shares of company stock worth $965,274. 0.26% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ADP has been the topic of several recent research reports. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Evercore ISI upped 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. Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Mizuho raised their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $255.42.

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.