Roffman Miller Associates Inc. PA Sells 1,841 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Roffman Miller Associates Inc. PA decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,862 shares of the business services provider’s stock after selling 1,841 shares during the quarter. Automatic Data Processing accounts for approximately 3.2% of Roffman Miller Associates Inc. PA’s portfolio, making the stock its 7th largest holding. Roffman Miller Associates Inc. PA’s holdings in Automatic Data Processing were worth $52,066,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Tower Wealth Partners Inc. grew its position in Automatic Data Processing by 3.4% in 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 during the last quarter. Harbour Investments Inc. grew its position in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares during the last quarter. Aspiriant LLC grew its position in Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after buying an additional 36 shares during the last quarter. Precedent Wealth Partners LLC grew its position in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 36 shares during the last quarter. Finally, Riversedge Advisors LLC grew its position in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after buying an additional 37 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

NASDAQ:ADP opened at $310.76 on Monday. The company has a market capitalization of $126.62 billion, a PE ratio of 32.40, a price-to-earnings-growth ratio of 3.63 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. The stock has a fifty day simple moving average of $298.72 and a 200-day simple moving average of $290.54.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share 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. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on ADP. 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 report on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by insiders.

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.