Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Sachetta LLC

Sachetta LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 4,104 shares of the business services provider’s stock after selling 98 shares during the quarter. Sachetta LLC’s holdings in Automatic Data Processing were worth $1,203,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its stake in Automatic Data Processing by 4.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 4,801 shares of the business services provider’s stock valued at $1,405,000 after acquiring an additional 183 shares during the period. CX Institutional lifted its holdings in Automatic Data Processing by 12.5% during the fourth quarter. CX Institutional now owns 25,905 shares of the business services provider’s stock valued at $7,583,000 after purchasing an additional 2,884 shares in the last quarter. Sound Income Strategies LLC grew its position in shares of Automatic Data Processing by 66.2% in the fourth quarter. Sound Income Strategies LLC now owns 821 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 327 shares during the period. McGlone Suttner Wealth Management Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $208,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of Automatic Data Processing by 3.4% during the fourth quarter. Cornerstone Wealth Management LLC now owns 3,091 shares of the business services provider’s stock worth $905,000 after purchasing an additional 102 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $297.10 on Friday. The stock has a market cap of $121.06 billion, a P/E ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a 50-day moving average price of $297.14 and a 200 day moving average price of $281.66.

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

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada boosted their price target on 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. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing 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 sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

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.