Roxbury Financial LLC Sells 114 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Roxbury Financial LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,572 shares of the business services provider’s stock after selling 114 shares during the quarter. Automatic Data Processing accounts for 1.8% of Roxbury Financial LLC’s portfolio, making the stock its 15th biggest holding. Roxbury Financial LLC’s holdings in Automatic Data Processing were worth $1,756,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Main Street Group LTD raised its holdings in Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC increased its holdings in shares of Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after purchasing an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Banque de Luxembourg S.A. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. bought a new position in shares of Automatic Data Processing during the fourth quarter valued at $37,000. 80.03% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on ADP shares. TD Securities lifted their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. Wall Street Zen downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Stifel Nicolaus lifted their price objective on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $305.64.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 over the last three months. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $325.22 on Monday. The company’s 50-day moving average price is $303.74 and its 200-day moving average price is $301.70. 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 $132.01 billion, a PE ratio of 33.91, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $327.99.

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

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.89%. Automatic Data Processing’s payout ratio is presently 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.