Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Berkshire Asset Management LLC PA

Berkshire Asset Management LLC PA cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.0% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 20,403 shares of the business services provider’s stock after selling 2,518 shares during the quarter. Berkshire Asset Management LLC PA’s holdings in Automatic Data Processing were worth $6,062,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Moloney Securities Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the third quarter valued at $209,000. Catalina Capital Group LLC raised its holdings in shares of Automatic Data Processing by 10.3% in the 3rd quarter. Catalina Capital Group LLC now owns 1,613 shares of the business services provider’s stock worth $446,000 after purchasing an additional 151 shares in the last quarter. Graypoint LLC increased its stake in Automatic Data Processing by 6.6% in the 3rd quarter. Graypoint LLC now owns 6,340 shares of the business services provider’s stock worth $1,754,000 after purchasing an additional 390 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after acquiring an additional 22,766 shares in the last quarter. Finally, Washington Trust Bank boosted its holdings in shares of Automatic Data Processing by 124.3% during the third quarter. Washington Trust Bank now owns 6,499 shares of the business services provider’s stock worth $1,798,000 after purchasing an additional 3,602 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $302.46 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average price of $301.87 and a 200 day moving average price of $293.26. The firm has a market cap of $123.24 billion, a PE ratio of 31.54, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.04%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In related news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was 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 approximately $1,723,589.82. The trade was a 14.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction 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 represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last three months. 0.21% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday. Barclays increased 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. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $296.18.

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.