Safe Harbor Fiduciary LLC Sells 87 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Safe Harbor Fiduciary LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,565 shares of the business services provider’s stock after selling 87 shares during the period. Safe Harbor Fiduciary LLC’s holdings in Automatic Data Processing were worth $458,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. AMG National Trust Bank increased its position 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 worth $3,318,000 after buying an additional 33 shares during the last quarter. Sentinus LLC grew its position in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after purchasing an additional 35 shares in the last quarter. Aspiriant LLC raised its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after buying an additional 36 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its holdings in shares of Automatic Data Processing by 1.0% in the 4th quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 36 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,451 shares of company stock valued at $743,024 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. TD Securities boosted their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research report on Thursday, May 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Stifel Nicolaus lifted their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. Finally, Jefferies Financial Group boosted 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. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $303.55.

Automatic Data Processing Trading Up 1.1%

NASDAQ:ADP opened at $319.37 on Friday. 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 capitalization of $129.64 billion, a PE ratio of 33.30, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a fifty day simple moving average of $298.29 and a 200-day simple moving average of $300.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the firm earned $2.88 earnings per share. Automatic Data Processing’s revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

About Automatic Data Processing

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.