Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by GLOBALT Investments LLC GA

GLOBALT Investments LLC GA cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,119 shares of the business services provider’s stock after selling 436 shares during the period. GLOBALT Investments LLC GA’s holdings in Automatic Data Processing were worth $7,646,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. AMG National Trust Bank raised its stake in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares during the last quarter. Aspiriant LLC grew its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares during the last quarter. Finally, Riversedge Advisors LLC grew its holdings in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The business has a 50-day simple moving average of $302.32 and a two-hundred day simple moving average of $294.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $118.88 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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%. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Company 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.