GLOBALT Investments LLC GA Sells 436 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

GLOBALT Investments LLC GA reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,119 shares of the business services provider’s stock after selling 436 shares during the quarter. GLOBALT Investments LLC GA’s holdings in Automatic Data Processing were worth $7,646,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter worth about $41,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ ADP opened at $291.76 on Monday. 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 business has a fifty day simple moving average of $302.32 and a two-hundred day simple moving average of $294.74. The firm has a market cap of $118.88 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.11%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADP. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $296.18.

Insiders Place Their Bets

In related news, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value 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 approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is owned by company insiders.

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.