Telos Capital Management Inc. Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Telos Capital Management Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,352 shares of the business services provider’s stock after selling 100 shares during the quarter. Telos Capital Management Inc.’s holdings in Automatic Data Processing were worth $396,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC boosted its position in Automatic Data Processing by 8.7% during the third quarter. CWM LLC now owns 19,941 shares of the business services provider’s stock worth $5,518,000 after purchasing an additional 1,603 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Wedmont Private Capital grew its stake in Automatic Data Processing by 6.6% in the 3rd quarter. Wedmont Private Capital now owns 3,747 shares of the business services provider’s stock valued at $1,057,000 after acquiring an additional 231 shares during the last quarter. Cypress Wealth Services LLC increased its holdings in Automatic Data Processing by 4.8% during the 3rd quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock valued at $248,000 after acquiring an additional 41 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Automatic Data Processing during the third quarter worth about $204,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on ADP shares. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. 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. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Down 1.0 %

ADP opened at $305.97 on Friday. The stock has a market capitalization of $124.67 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day moving average of $297.21 and a two-hundred day moving average of $285.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by insiders.

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.