Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Key Financial Inc

Key Financial Inc lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,525 shares of the business services provider’s stock after selling 211 shares during the period. Key Financial Inc’s holdings in Automatic Data Processing were worth $3,081,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the company. Accredited Investors Inc. grew its stake in shares of Automatic Data Processing by 4,431.5% during the 3rd quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock worth $640,712,000 after purchasing an additional 2,264,202 shares during the period. International Assets Investment Management LLC lifted its stake in shares of Automatic Data Processing by 28,478.6% in the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares during the period. Holocene Advisors LP purchased a new stake in Automatic Data Processing during the third quarter worth about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund grew its position in Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the period. Finally, State Street Corp increased its holdings in Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after buying an additional 424,328 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $308.15 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The firm has a market cap of $125.56 billion, a price-to-earnings ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company’s 50-day moving average is $297.56 and its two-hundred day moving average is $288.77. The company has a current ratio of 1.00, a quick 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 (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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 given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average 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.