Horan Capital Advisors LLC. Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Horan Capital Advisors LLC. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,513 shares of the business services provider’s stock after selling 373 shares during the quarter. Automatic Data Processing makes up approximately 1.2% of Horan Capital Advisors LLC.’s portfolio, making the stock its 29th biggest position. Horan Capital Advisors LLC.’s holdings in Automatic Data Processing were worth $3,381,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. OFI Invest Asset Management purchased a new position in Automatic Data Processing during the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth $35,000. Raleigh Capital Management Inc. grew its position in 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 worth $42,000 after purchasing an additional 89 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $41,000. Finally, Bfsg LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

Shares of Automatic Data Processing stock opened at $241.89 on Friday. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day moving average price of $245.63 and a 200 day moving average price of $239.08. The company has a market capitalization of $99.37 billion, a P/E ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate 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 revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.52 earnings per share. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.32%. Automatic Data Processing’s dividend payout ratio is currently 62.50%.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. TD Cowen lowered their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $255.42.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The disclosure for this sale can be found here. Insiders have sold 3,829 shares of company stock valued at $965,274 in the last ninety days. 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.