Coerente Capital Management Sells 710 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Coerente Capital Management reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 101,733 shares of the business services provider’s stock after selling 710 shares during the period. Automatic Data Processing accounts for approximately 5.6% of Coerente Capital Management’s investment portfolio, making the stock its 4th largest holding. Coerente Capital Management’s holdings in Automatic Data Processing were worth $29,780,000 at the end of the most recent reporting period.

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

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % 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 this link. Also, 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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock worth $12,604,872 in the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have weighed in on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group raised their price target 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. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. Finally, TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $291.27.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $303.01 on Friday. The company has a market capitalization of $123.46 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The firm’s 50 day moving average is $297.16 and its 200-day moving average is $284.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 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 81.85%. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s payout ratio is 64.23%.

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.