Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Baxter Bros Inc.

Baxter Bros Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 81,821 shares of the business services provider’s stock after selling 750 shares during the period. Automatic Data Processing makes up 3.1% of Baxter Bros Inc.’s holdings, making the stock its 8th largest position. Baxter Bros Inc.’s holdings in Automatic Data Processing were worth $23,951,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in ADP. Littlejohn Financial Services Inc. purchased a new position in Automatic Data Processing in the fourth quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. raised its position in Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares in the last quarter. DRW Securities LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $951,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Automatic Data Processing by 51.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 18,925 shares of the business services provider’s stock valued at $5,236,000 after acquiring an additional 6,399 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its holdings in Automatic Data Processing by 12.0% during the third quarter. Daiwa Securities Group Inc. now owns 82,736 shares of the business services provider’s stock worth $22,896,000 after purchasing an additional 8,846 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ADP shares. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $296.18.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred 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 in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the business’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 value of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 1.2 %

NASDAQ:ADP opened at $298.89 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The firm has a market capitalization of $121.78 billion, a PE ratio of 31.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $303.26 and a 200-day moving average of $295.70.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.