KCM Investment Advisors LLC Sells 2,132 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

KCM Investment Advisors LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 181,714 shares of the business services provider’s stock after selling 2,132 shares during the quarter. Automatic Data Processing comprises 1.8% of KCM Investment Advisors LLC’s holdings, making the stock its 9th biggest position. KCM Investment Advisors LLC’s holdings in Automatic Data Processing were worth $53,193,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Dunhill Financial LLC raised its stake in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Cyrus J. Lawrence LLC raised its position in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $286.13 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The firm has a market capitalization of $116.59 billion, a price-to-earnings ratio of 29.84, a P/E/G ratio of 3.62 and a beta of 0.74. The stock’s 50 day moving average price is $304.41 and its two-hundred day moving average price is $297.03. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.15%. The ex-dividend date was Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling

In other news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,368 shares of company stock valued at $1,903,541. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of research reports. Jefferies Financial Group boosted 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 report on Thursday, January 30th. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $302.30.

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.