Whittier Trust Co. of Nevada Inc. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Whittier Trust Co. of Nevada Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,172 shares of the business services provider’s stock after selling 248 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Automatic Data Processing were worth $2,978,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $342,942,000. Proficio Capital Partners LLC increased its stake in shares of Automatic Data Processing by 41,710.7% in the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after purchasing an additional 1,087,814 shares in the last quarter. Holocene Advisors LP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter worth $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its stake in shares of Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, Amundi boosted its holdings in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after buying an additional 449,431 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two investment 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 data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $296.18.

Insider Activity

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

Automatic Data Processing Stock Down 0.7 %

Shares of NASDAQ ADP opened at $295.32 on Friday. The firm’s 50-day moving average price is $303.08 and its 200-day moving average price is $295.22. 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 stock has a market capitalization of $120.33 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

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.