Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Csenge Advisory Group

Csenge Advisory Group lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,137 shares of the business services provider’s stock after selling 50 shares during the quarter. Csenge Advisory Group’s holdings in Automatic Data Processing were worth $625,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Tower Wealth Partners Inc. raised its stake 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 worth $292,000 after buying an additional 35 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares during the last quarter. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the last quarter. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares during the last quarter. Finally, Riversedge Advisors LLC raised its position in shares of Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 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 other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on 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 owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly 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 disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Trading Down 0.7 %

Shares of ADP opened at $308.15 on Tuesday. The stock’s fifty day simple moving average is $297.56 and its 200 day simple moving average is $288.77. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. 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 firm has a market capitalization of $125.56 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued 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 return on equity of 80.86% and a net margin of 19.76%. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share 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 issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on ADP shares. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. 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, January 30th. Mizuho boosted 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 report on Monday, November 4th. Barclays boosted 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 report on Monday, February 3rd. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.55.

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.