Certuity LLC Sells 9,633 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Certuity LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 68.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,389 shares of the business services provider’s stock after selling 9,633 shares during the quarter. Certuity LLC’s holdings in Automatic Data Processing were worth $1,285,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC increased its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $305.78 on Wednesday. The company’s fifty day moving average price is $297.21 and its 200 day moving average price is $287.34. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The stock has a market capitalization of $124.59 billion, a P/E ratio of 31.89, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on ADP shares. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays increased their price target 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. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. 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 company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $293.55.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing 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 transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by company insiders.

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.