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

Sterling Capital Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 25.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 425,286 shares of the business services provider’s stock after selling 145,690 shares during the quarter. Automatic Data Processing makes up about 1.7% of Sterling Capital Management LLC’s investment portfolio, making the stock its 10th largest position. Sterling Capital Management LLC’s holdings in Automatic Data Processing were worth $124,494,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Cyrus J. Lawrence LLC grew its stake in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $37,000. HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $41,000. Finally, Kieckhefer Group LLC acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 0.8 %

Shares of NASDAQ:ADP opened at $292.21 on Friday. The company has a market capitalization of $119.06 billion, a price-to-earnings ratio of 30.47, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The company has a 50 day moving average of $302.49 and a two-hundred day moving average of $297.39. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its 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%. As a group, analysts forecast 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, July 1st. Stockholders of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,364 shares of company stock worth $1,613,094 in the last three months. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Barclays lifted their price target on shares of 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 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. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $302.30.

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.