Koshinski Asset Management Inc. Sells 4,292 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Koshinski Asset Management Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 66.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 2,166 shares of the business services provider’s stock after selling 4,292 shares during the period. Koshinski Asset Management Inc.’s holdings in Automatic Data Processing were worth $505,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Sei Investments Co. lifted its holdings in shares of Automatic Data Processing by 19.3% in the first quarter. Sei Investments Co. now owns 134,223 shares of the business services provider’s stock worth $30,532,000 after buying an additional 21,671 shares in the last quarter. Dakota Wealth Management purchased a new position in Automatic Data Processing during the first quarter valued at approximately $571,000. Zions Bancorporation N.A. increased its holdings in Automatic Data Processing by 12.4% during the 1st quarter. Zions Bancorporation N.A. now owns 453 shares of the business services provider’s stock worth $103,000 after acquiring an additional 50 shares during the period. Covestor Ltd increased its holdings in Automatic Data Processing by 82.8% during the 1st quarter. Covestor Ltd now owns 636 shares of the business services provider’s stock worth $145,000 after acquiring an additional 288 shares during the period. Finally, Merit Financial Group LLC lifted its stake in Automatic Data Processing by 4.4% in the 1st quarter. Merit Financial Group LLC now owns 2,902 shares of the business services provider’s stock worth $660,000 after purchasing an additional 121 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP John Ayala sold 1,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the completion of the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 16,662 shares of company stock worth $4,094,554. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.2 %

Shares of ADP opened at $243.85 on Monday. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a 50 day simple moving average of $247.90 and a two-hundred day simple moving average of $239.12. The firm has a market cap of $100.17 billion, a P/E ratio of 28.39, a P/E/G ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $254.58.

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.