Strengthening Families & Communities LLC Sells 9,620 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Strengthening Families & Communities LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 364 shares of the business services provider’s stock after selling 9,620 shares during the period. Strengthening Families & Communities LLC’s holdings in Automatic Data Processing were worth $107,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. Exchange Traded Concepts LLC lifted its position in Automatic Data Processing by 22.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after acquiring an additional 861 shares during the period. Koshinski Asset Management Inc. lifted its holdings in Automatic Data Processing by 3.7% in the third quarter. Koshinski Asset Management Inc. now owns 6,756 shares of the business services provider’s stock valued at $1,870,000 after acquiring an additional 244 shares during the period. Smith Chas P & Associates PA Cpas acquired a new position in Automatic Data Processing in the third quarter valued at approximately $22,286,000. Orca Investment Management LLC increased its holdings in shares of Automatic Data Processing by 13.9% during the 3rd quarter. Orca Investment Management LLC now owns 3,317 shares of the business services provider’s stock valued at $918,000 after purchasing an additional 406 shares in the last quarter. Finally, Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Automatic Data Processing by 1.2% in the 3rd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,726 shares of the business services provider’s stock valued at $2,415,000 after purchasing an additional 104 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.3 %

NASDAQ ADP opened at $306.93 on Tuesday. The business has a fifty day moving average price of $297.20 and a 200 day moving average price of $286.94. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market cap of $125.06 billion, a P/E ratio of 32.01, a P/E/G ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67.

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

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Activity

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Company 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.