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

Motco lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,687 shares of the business services provider’s stock after selling 87 shares during the quarter. Motco’s holdings in Automatic Data Processing were worth $787,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during the third 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 last quarter. Capital Performance Advisors LLP purchased a new position in Automatic Data Processing during the third quarter worth approximately $35,000. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $311.30 on Friday. The firm has a fifty day simple moving average of $300.24 and a 200-day simple moving average of $291.53. The company has a market capitalization of $126.84 billion, a PE ratio of 32.46, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $315.29. 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 released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were 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. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research analyst reports. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group increased 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 report on Thursday, January 30th. Two equities research 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’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing 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.