Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Adell Harriman & Carpenter Inc.

Adell Harriman & Carpenter Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,047 shares of the business services provider’s stock after selling 129 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in Automatic Data Processing were worth $892,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $26,000. Dunhill Financial LLC grew its stake in shares of 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 purchasing an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $35,000. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 in the last ninety days. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of research reports. TD Cowen increased 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. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays increased their price objective 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. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $308.15 on Friday. The stock has a fifty day moving average price of $297.49 and a 200 day moving average price of $288.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. The firm has a market capitalization of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.