Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,097 shares of the business services provider’s stock after selling 96 shares during the period. Signet Financial Management LLC’s holdings in Automatic Data Processing were worth $722,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. OFI Invest Asset Management acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Automatic Data Processing in the second quarter valued at about $30,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Automatic Data Processing in the first quarter valued at about $31,000. Coppell Advisory Solutions Corp. purchased a new stake in Automatic Data Processing during the fourth quarter worth about $33,000. Finally, Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $254.58.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 in the last ninety days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $244.21 on Wednesday. The stock’s 50 day moving average is $247.69 and its 200 day moving average is $239.16. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $100.32 billion, a P/E ratio of 28.43, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the company posted $1.96 earnings per share. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.