Asset Dedication LLC Sells 4,069 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Dedication LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 57.1% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,059 shares of the business services provider’s stock after selling 4,069 shares during the quarter. Asset Dedication LLC’s holdings in Automatic Data Processing were worth $896,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. R Squared Ltd purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $158,000. BSW Wealth Partners boosted its stake in Automatic Data Processing by 2.9% in the fourth quarter. BSW Wealth Partners now owns 3,721 shares of the business services provider’s stock worth $1,089,000 after buying an additional 104 shares in the last quarter. Stonegate Investment Group LLC raised its stake in shares of Automatic Data Processing by 49.5% during the fourth quarter. Stonegate Investment Group LLC now owns 2,266 shares of the business services provider’s stock worth $663,000 after acquiring an additional 750 shares in the last quarter. Perigon Wealth Management LLC raised its stake in shares of Automatic Data Processing by 33.3% during the fourth quarter. Perigon Wealth Management LLC now owns 30,926 shares of the business services provider’s stock worth $9,161,000 after acquiring an additional 7,734 shares in the last quarter. Finally, Hutchens & Kramer Investment Management Group LLC lifted its stake in Automatic Data Processing by 2.6% in the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,419 shares of the business services provider’s stock worth $1,001,000 after purchasing an additional 87 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group boosted their price objective 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. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. 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 company. Based on data from MarketBeat, 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 Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Up 0.8 %

Shares of NASDAQ:ADP opened at $300.57 on Thursday. The firm has a market capitalization of $122.47 billion, a P/E ratio of 32.08, a P/E/G ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $297.19 and a 200-day moving average price of $283.65. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm 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 $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.