Klingman & Associates LLC Sells 698 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Klingman & Associates LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,118 shares of the business services provider’s stock after selling 698 shares during the quarter. Klingman & Associates LLC’s holdings in Automatic Data Processing were worth $2,084,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC boosted its holdings 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 in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

ADP stock opened at $309.89 on Wednesday. The stock has a 50-day moving average price of $297.93 and a 200-day moving average price of $289.42. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $126.27 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on ADP. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Mizuho raised their price objective 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 set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last three months. Corporate insiders own 0.21% of the company’s stock.

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.