BTIM Corp. reduced its position in Automatic Data Processing (NASDAQ:ADP) by 0.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 647,943 shares of the company’s stock after selling 2,631 shares during the period. Automatic Data Processing comprises about 1.0% of BTIM Corp.’s portfolio, making the stock its 21st largest position. BTIM Corp. owned approximately 0.14% of Automatic Data Processing worth $54,894,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in ADP. Park National increased its stake in Automatic Data Processing by 0.8% in the fourth quarter. Park National now owns 363,233 shares of the company’s stock valued at $30,773,000 after buying an additional 2,758 shares in the last quarter. Wendell David Associates increased its stake in Automatic Data Processing by 1.5% in the fourth quarter. Wendell David Associates now owns 254,981 shares of the company’s stock valued at $21,673,000 after buying an additional 3,824 shares in the last quarter. Woodley Farra Manion Portfolio Management increased its stake in Automatic Data Processing by 2.1% in the fourth quarter. Woodley Farra Manion Portfolio Management now owns 250,399 shares of the company’s stock valued at $21,214,000 after buying an additional 5,255 shares in the last quarter. Assetmark increased its stake in Automatic Data Processing by 417.1% in the third quarter. Assetmark now owns 167,633 shares of the company’s stock valued at $13,471,000 after buying an additional 135,212 shares in the last quarter. Finally, Capstone Asset Management Company increased its stake in Automatic Data Processing by 0.8% in the fourth quarter. Capstone Asset Management Company now owns 142,352 shares of the company’s stock valued at $12,060,000 after buying an additional 1,117 shares in the last quarter.

Automatic Data Processing (NASDAQ:ADP) opened at 83.09 on Friday. The firm has a market capitalization of $38.32 billion and a PE ratio of 26.34. The firm’s 50-day moving average is $82.11 and its 200-day moving average is $82.79. Automatic Data Processing has a 52-week low of $64.29 and a 52-week high of $90.67.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 1st. Investors of record on Friday, March 11th will be given a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, March 9th. This represents a $2.12 dividend on an annualized basis and a yield of 2.55%.

Several analysts have weighed in on ADP shares. Zacks Investment Research downgraded shares of Automatic Data Processing from a “hold” rating to a “sell” rating in a research report on Monday, January 25th. Sterne Agee CRT assumed coverage on shares of Automatic Data Processing in a research report on Thursday, December 17th. They set a “neutral” rating and a $90.00 target price on the stock. Topeka Capital Markets restated a “sell” rating on shares of Automatic Data Processing in a research note on Thursday, October 29th. BMO Capital Markets lifted their price objective on shares of Automatic Data Processing to $94.00 and gave the company a “market perform” rating in a research note on Thursday, October 29th. Finally, Argus lifted their price objective on shares of Automatic Data Processing from $92.00 to $96.00 and gave the company a “buy” rating in a research note on Tuesday, November 3rd. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $87.50.

In related news, VP John Ayala sold 8,140 shares of Automatic Data Processing stock in a transaction on Monday, January 4th. The shares were sold at an average price of $82.93, for a total value of $675,050.20. Following the transaction, the vice president now directly owns 11,285 shares in the company, valued at approximately $935,865.05. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brock Albinson sold 1,367 shares of the firm’s stock in a transaction on Tuesday, January 26th. The shares were sold at an average price of $80.33, for a total value of $109,811.11. Following the completion of the sale, the vice president now directly owns 5,053 shares of the company’s stock, valued at approximately $405,907.49. The disclosure for this sale can be found here.

Automatic Data Processing, Inc. (NASDAQ:ADP) is a provider of human capital management (HCM) solutions and business process outsourcing. The Company operates through two segments: Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers a range of business outsourcing and technology-enabled HCM solutions. These offerings include payroll services, benefits administration, recruiting and talent management, human resources management, insurance services, retirement services and payment and compliance solutions. The Company’s PEO business, ADP TotalSource, offers small and mid-sized businesses human resources (HR) outsourcing solution through a co-employment model. ADP TotalSource includes HR management and employee benefits functions, including HR administration, employee benefits and employer liability management, into a single-source solution, including HR administration, employee benefits and employer liability management.

12 Month Chart for NASDAQ:ADP

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