Lederer & Associates Investment Counsel CA Has $3.38 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Lederer & Associates Investment Counsel CA trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 11,530 shares of the business services provider’s stock after selling 46 shares during the quarter. Automatic Data Processing accounts for approximately 2.4% of Lederer & Associates Investment Counsel CA’s portfolio, making the stock its 8th largest position. Lederer & Associates Investment Counsel CA’s holdings in Automatic Data Processing were worth $3,375,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Accredited Investors Inc. increased its position in Automatic Data Processing by 4,431.5% in the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after acquiring an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC increased its position in Automatic Data Processing by 28,478.6% in the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after acquiring an additional 1,190,407 shares in the last quarter. Holocene Advisors LP acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after acquiring an additional 479,145 shares in the last quarter. Finally, State Street Corp increased its position in Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Activity

In related news, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 over the last quarter. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. Finally, UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Two equities 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’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $291.27.

Automatic Data Processing Trading Down 0.1 %

ADP opened at $303.01 on Monday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a 50-day simple moving average of $297.16 and a 200 day simple moving average of $284.59. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $123.46 billion, a price-to-earnings ratio of 31.60, a P/E/G ratio of 3.52 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.