Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Lowe Brockenbrough & Co. Inc.

Lowe Brockenbrough & Co. Inc. trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,357 shares of the business services provider’s stock after selling 270 shares during the period. Lowe Brockenbrough & Co. Inc.’s holdings in Automatic Data Processing were worth $5,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also made changes to their positions in ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the period. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $41,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.4 %

ADP stock opened at $297.51 on Friday. 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 company’s 50-day moving average price is $302.91 and its 200 day moving average price is $295.08. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a market cap of $121.22 billion, a P/E ratio of 31.02, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS 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%. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analysts Set New Price Targets

ADP has been the subject of several research reports. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $296.18.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 in the last 90 days. 0.21% of the stock is currently owned by insiders.

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.