Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Fortitude Family Office LLC

Fortitude Family Office LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 467 shares of the business services provider’s stock after selling 43 shares during the period. Fortitude Family Office LLC’s holdings in Automatic Data Processing were worth $137,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. purchased a new stake in shares of Automatic Data Processing during the second quarter valued at $27,000. Dunhill Financial LLC increased its position in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Hexagon Capital Partners LLC raised its stake in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, 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. In the last quarter, insiders sold 41,062 shares of company stock valued at $12,299,550. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, January 3rd. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Up 1.2 %

ADP opened at $291.89 on Friday. The company has a fifty day moving average of $298.49 and a two-hundred day moving average of $277.85. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The stock has a market capitalization of $118.93 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.08 EPS. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a dividend of $1.54 per share. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

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.