Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Boston Family Office LLC

Boston Family Office LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 70,568 shares of the business services provider’s stock after selling 504 shares during the quarter. Automatic Data Processing makes up 1.4% of Boston Family Office LLC’s portfolio, making the stock its 24th biggest holding. Boston Family Office LLC’s holdings in Automatic Data Processing were worth $20,657,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Public Sector Pension Investment Board grew its holdings in shares of Automatic Data Processing by 12.9% during the third quarter. Public Sector Pension Investment Board now owns 17,514 shares of the business services provider’s stock worth $4,847,000 after buying an additional 2,000 shares in the last quarter. Cobblestone Capital Advisors LLC NY grew its stake in Automatic Data Processing by 2.6% in the 3rd quarter. Cobblestone Capital Advisors LLC NY now owns 2,297 shares of the business services provider’s stock worth $636,000 after acquiring an additional 58 shares during the period. Kestra Investment Management LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at $224,000. Benjamin Edwards Inc. lifted its stake in shares of Automatic Data Processing by 1,628.9% during the 3rd quarter. Benjamin Edwards Inc. now owns 196,922 shares of the business services provider’s stock worth $54,509,000 after purchasing an additional 185,532 shares during the period. Finally, Beacon Investment Advisory Services Inc. boosted its holdings in shares of Automatic Data Processing by 1.3% during the third quarter. Beacon Investment Advisory Services Inc. now owns 20,134 shares of the business services provider’s stock worth $5,572,000 after purchasing an additional 254 shares during the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on ADP. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Barclays upped 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. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $302.30.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $305.53 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $124.49 billion, a PE ratio of 31.86, a P/E/G ratio of 3.62 and a beta of 0.76. The company’s fifty day simple moving average is $304.05 and its 200-day simple moving average is $296.64. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 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%. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 in the last 90 days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Company 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.