Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Boston Trust Walden Corp

Boston Trust Walden Corp cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 520,172 shares of the business services provider’s stock after selling 5,440 shares during the quarter. Automatic Data Processing accounts for 1.1% of Boston Trust Walden Corp’s investment portfolio, making the stock its 12th largest position. Boston Trust Walden Corp’s holdings in Automatic Data Processing were worth $152,270,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ADP. Moloney Securities Asset Management LLC purchased a new position in shares of Automatic Data Processing in the third quarter valued at approximately $209,000. Nomura Asset Management Co. Ltd. lifted its stake in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after buying an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Automatic Data Processing during the third quarter worth about $470,000. Dash Acquisitions Inc. grew its stake in Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

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, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.1 %

Shares of NASDAQ ADP opened at $303.01 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’s 50 day moving average is $297.16 and its two-hundred day moving average is $284.84. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The firm has a market cap of $123.46 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 3.52 and a beta of 0.79.

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, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a 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. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $293.55.

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.