C WorldWide Group Holding A S Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

C WorldWide Group Holding A S lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 3,394 shares of the business services provider’s stock after selling 778 shares during the period. C WorldWide Group Holding A S’s holdings in Automatic Data Processing were worth $994,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of ADP. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC boosted its holdings in shares of Automatic Data Processing by 346.5% during the 3rd 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. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on ADP shares. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays increased 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. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $293.55.

Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have 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 Down 0.4 %

Shares of NASDAQ ADP opened at $310.76 on Monday. 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 company has a market cap of $126.62 billion, a P/E ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The firm has a 50-day simple moving average of $298.72 and a two-hundred day simple moving average of $290.54.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. Research analysts anticipate 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.