Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 6,866 shares of the business services provider’s stock after selling 72 shares during the period. Automatic Data Processing makes up about 1.8% of MeadowBrook Investment Advisors LLC’s investment portfolio, making the stock its 12th largest position. MeadowBrook Investment Advisors LLC’s holdings in Automatic Data Processing were worth $2,010,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, UBS Group lifted their price target 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. Two 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 MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Activity

In related news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $305.78 on Wednesday. The company has a market cap of $124.59 billion, a PE ratio of 31.89, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a fifty day moving average price of $297.21 and a two-hundred day moving average price of $287.34. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67.

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, 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 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.