Cobblestone Capital Advisors LLC NY Sells 53 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cobblestone Capital Advisors LLC NY cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 2,244 shares of the business services provider’s stock after selling 53 shares during the quarter. Cobblestone Capital Advisors LLC NY’s holdings in Automatic Data Processing were worth $657,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of ADP. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC lifted its holdings 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 last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $37,000. Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the 4th quarter valued at approximately $37,000. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, 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 value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 1.2 %

Shares of Automatic Data Processing stock opened at $315.18 on Friday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $316.46. The company’s fifty day simple moving average is $300.66 and its 200-day simple moving average is $291.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $128.42 billion, a PE ratio of 32.87, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released 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 return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid 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 dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the subject of several analyst reports. Mizuho raised their price target 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. 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Finally, Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing 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.