Yousif Capital Management LLC Has $25.24 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Yousif Capital Management LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 82,613 shares of the business services provider’s stock after selling 2,981 shares during the quarter. Yousif Capital Management LLC’s holdings in Automatic Data Processing were worth $25,241,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Automatic Data Processing by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC grew its holdings in Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after purchasing an additional 65,965 shares during the period. Northern Trust Corp grew its holdings in Automatic Data Processing by 17.1% during the fourth quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider’s stock worth $1,807,438,000 after purchasing an additional 902,354 shares during the period. Capital Research Global Investors grew its holdings in Automatic Data Processing by 26.9% during the fourth quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider’s stock worth $1,796,415,000 after purchasing an additional 1,299,390 shares during the period. Finally, Invesco Ltd. grew its holdings in Automatic Data Processing by 6.0% during the fourth quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider’s stock worth $1,137,710,000 after purchasing an additional 219,032 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 2.5%

Shares of NASDAQ ADP opened at $318.57 on Tuesday. The firm’s 50 day moving average price is $306.18 and its 200-day moving average price is $302.73. The company has a market cap of $129.31 billion, a PE ratio of 33.22, a P/E/G ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $329.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the previous year, the company earned $2.88 earnings per share. The firm’s quarterly revenue was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio is 63.05%.

Analysts Set New Price Targets

Several brokerages have issued reports on ADP. Stifel Nicolaus raised their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, TD Securities raised their price objective on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research report on Wednesday, May 21st. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $305.64.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. 0.21% 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.