Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mather Group LLC.

Mather Group LLC. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.9% in the 4th quarter, HoldingsChannel reports. The firm owned 61,475 shares of the business services provider’s stock after selling 5,981 shares during the period. Mather Group LLC.’s holdings in Automatic Data Processing were worth $17,996,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Newton One Investments LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $43,000. Brown Lisle Cummings Inc. grew its position in shares of Automatic Data Processing by 34.7% in the fourth quarter. Brown Lisle Cummings Inc. now owns 4,106 shares of the business services provider’s stock valued at $1,202,000 after purchasing an additional 1,057 shares during the last quarter. Commonwealth Financial Services LLC increased its stake in shares of Automatic Data Processing by 24.3% during the 4th quarter. Commonwealth Financial Services LLC now owns 1,390 shares of the business services provider’s stock worth $407,000 after purchasing an additional 272 shares in the last quarter. Rockline Wealth Management LLC lifted its stake in Automatic Data Processing by 5.0% in the 4th quarter. Rockline Wealth Management LLC now owns 13,341 shares of the business services provider’s stock valued at $3,905,000 after buying an additional 637 shares in the last quarter. Finally, Calamos Wealth Management LLC acquired a new stake in Automatic Data Processing during the 4th quarter valued at $220,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last quarter. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $307.32 on Tuesday. The business’s 50-day simple moving average is $297.16 and its 200-day simple moving average is $284.84. The firm has a market capitalization of $125.22 billion, a P/E ratio of 32.05, a P/E/G ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. 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 (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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 analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS 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. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADP. Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays increased 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. Finally, UBS Group upped their target price on 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 equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.55.

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.