Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,222 shares of the business services provider’s stock after selling 544 shares during the quarter. Lmcg Investments LLC’s holdings in Automatic Data Processing were worth $650,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing in the third quarter valued at about $26,000. Dunhill Financial LLC boosted its stake 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 buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC grew its position in shares of Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the third quarter worth $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. Royal Bank of Canada boosted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. UBS Group increased their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $289.91.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on 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 transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Up 0.7 %

Automatic Data Processing stock opened at $298.15 on Wednesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The company has a 50-day simple moving average of $297.69 and a 200-day simple moving average of $281.01. The firm has a market capitalization of $121.48 billion, a P/E ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.