Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 48,819 shares of the business services provider’s stock after selling 1,406 shares during the period. Mutual of America Capital Management LLC’s holdings in Automatic Data Processing were worth $14,291,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Waterway Wealth Management LLC raised its position in shares of Automatic Data Processing by 5.5% during the 4th quarter. Waterway Wealth Management LLC now owns 1,057 shares of the business services provider’s stock worth $309,000 after purchasing an additional 55 shares during the last quarter. Dynasty Wealth Management LLC raised its position in shares of Automatic Data Processing by 3.1% during the 4th quarter. Dynasty Wealth Management LLC now owns 7,241 shares of the business services provider’s stock worth $2,120,000 after purchasing an additional 218 shares during the last quarter. Pettyjohn Wood & White Inc. raised its position in shares of Automatic Data Processing by 24.6% during the 4th quarter. Pettyjohn Wood & White Inc. now owns 12,177 shares of the business services provider’s stock worth $3,565,000 after purchasing an additional 2,401 shares during the last quarter. Verus Capital Partners LLC raised its position in shares of Automatic Data Processing by 9.3% during the 4th quarter. Verus Capital Partners LLC now owns 1,305 shares of the business services provider’s stock worth $382,000 after purchasing an additional 111 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in shares of Automatic Data Processing by 3.9% during the 4th quarter. QRG Capital Management Inc. now owns 32,354 shares of the business services provider’s stock worth $9,471,000 after purchasing an additional 1,228 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Cowen upped 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 upped 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. Finally, Barclays upped 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $293.55.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $315.18 on Friday. The firm has a 50 day simple moving average of $300.66 and a 200-day simple moving average of $291.92. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $316.46. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market cap of $128.42 billion, a price-to-earnings ratio of 32.87, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly 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%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.95%. Automatic Data Processing’s payout ratio is currently 64.23%.

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.