Culbertson A N & Co. Inc. Sells 90 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Culbertson A N & Co. Inc. decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,063 shares of the business services provider’s stock after selling 90 shares during the quarter. Automatic Data Processing makes up approximately 1.2% of Culbertson A N & Co. Inc.’s portfolio, making the stock its 28th biggest position. Culbertson A N & Co. Inc.’s holdings in Automatic Data Processing were worth $7,337,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Tower Wealth Partners Inc. raised its holdings in shares of Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after buying an additional 35 shares in the last quarter. Harbour Investments Inc. grew its position in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares during the last quarter. Petredis Investment Advisors LLC raised its stake in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares in the last quarter. Riversedge Advisors LLC lifted its holdings in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares during the last quarter. Finally, Austin Private Wealth LLC lifted its holdings in shares of Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after acquiring an additional 39 shares during 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 Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated 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 completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Jefferies Financial Group raised their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Finally, Royal Bank of Canada upped their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $296.18 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The business’s fifty day moving average is $297.90 and its 200 day moving average is $280.60. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same period last year, the business earned $2.08 earnings per share. The business’s revenue was up 7.1% on a year-over-year basis. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio 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.