Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Strengthening Families & Communities LLC

Strengthening Families & Communities LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 96.4% during the 4th quarter, HoldingsChannel.com reports. The fund owned 364 shares of the business services provider’s stock after selling 9,620 shares during the quarter. Strengthening Families & Communities LLC’s holdings in Automatic Data Processing were worth $107,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ADP. Exchange Traded Concepts LLC boosted its position in shares of Automatic Data Processing by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after buying an additional 861 shares during the period. Koshinski Asset Management Inc. boosted its holdings in Automatic Data Processing by 3.7% during the 3rd quarter. Koshinski Asset Management Inc. now owns 6,756 shares of the business services provider’s stock valued at $1,870,000 after acquiring an additional 244 shares during the period. Smith Chas P & Associates PA Cpas acquired a new position in Automatic Data Processing in the 3rd quarter valued at about $22,286,000. Orca Investment Management LLC increased its stake in Automatic Data Processing by 13.9% during the third quarter. Orca Investment Management LLC now owns 3,317 shares of the business services provider’s stock worth $918,000 after purchasing an additional 406 shares during the period. Finally, Thurston Springer Miller Herd & Titak Inc. increased its stake in Automatic Data Processing by 1.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 8,726 shares of the business services provider’s stock worth $2,415,000 after purchasing an additional 104 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction 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 sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $306.93 on Tuesday. The business has a 50 day moving average price of $297.20 and a 200 day moving average price of $286.94. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $125.06 billion, a price-to-earnings ratio of 32.01, a PEG ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67.

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, 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 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 company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen boosted their price target 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 objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reiterated 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, Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target 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.