Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Erste Asset Management GmbH

Erste Asset Management GmbH lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 266,553 shares of the business services provider’s stock after selling 7,146 shares during the period. Automatic Data Processing comprises 0.9% of Erste Asset Management GmbH’s portfolio, making the stock its 22nd largest holding. Erste Asset Management GmbH’s holdings in Automatic Data Processing were worth $78,519,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. AMG National Trust Bank grew its holdings in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares during the period. Harbour Investments Inc. grew its stake in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after buying an additional 36 shares during the period. Aspiriant LLC grew its stake in Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after buying an additional 36 shares during the period. Precedent Wealth Partners LLC grew its stake in Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after buying an additional 36 shares during the period. Finally, Riversedge Advisors LLC grew its stake in Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADP shares. UBS Group boosted 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 note on Tuesday, March 4th. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research 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 MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Stock Up 0.6 %

ADP stock opened at $294.18 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The firm has a fifty day moving average price of $302.30 and a two-hundred day moving average price of $294.33. The firm has a market cap of $119.87 billion, a price-to-earnings ratio of 30.68, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its 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%. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated 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 owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,951 shares of company stock worth $1,762,074. Insiders own 0.21% of the company’s stock.

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.