Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Adirondack Trust Co.

Adirondack Trust Co. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,755 shares of the business services provider’s stock after selling 98 shares during the period. Adirondack Trust Co.’s holdings in Automatic Data Processing were worth $1,099,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. 1832 Asset Management L.P. increased its holdings in shares of Automatic Data Processing by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock valued at $9,713,000 after acquiring an additional 436 shares during the last quarter. Public Sector Pension Investment Board raised its holdings in Automatic Data Processing by 71.0% during the second quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 6,439 shares in the last quarter. Magnetar Financial LLC purchased a new stake in shares of Automatic Data Processing during the 2nd quarter worth approximately $203,000. Evergreen Capital Management LLC lifted its position in shares of Automatic Data Processing by 2.8% during the 2nd quarter. Evergreen Capital Management LLC now owns 6,683 shares of the business services provider’s stock worth $1,604,000 after buying an additional 183 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC grew its position in shares of Automatic Data Processing by 5.4% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 1,673 shares of the business services provider’s stock valued at $399,000 after buying an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADP shares. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. UBS Group raised their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, Mizuho upped 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. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction 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 owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $296.36 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $297.27 and its two-hundred day moving average is $281.56. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The firm has a market capitalization of $120.75 billion, a PE ratio of 31.63, a P/E/G ratio of 3.47 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.08 earnings per share. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

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.