Bleakley Financial Group LLC Sells 45 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bleakley Financial Group LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the 4th quarter, Holdings Channel reports. The fund owned 15,565 shares of the business services provider’s stock after selling 45 shares during the quarter. Bleakley Financial Group LLC’s holdings in Automatic Data Processing were worth $4,556,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Tyche Wealth Partners LLC lifted its stake in shares of Automatic Data Processing by 108.8% in the fourth quarter. Tyche Wealth Partners LLC now owns 6,024 shares of the business services provider’s stock worth $1,763,000 after buying an additional 3,139 shares in the last quarter. Summit Wealth Partners LLC lifted its position in Automatic Data Processing by 8.3% in the 4th quarter. Summit Wealth Partners LLC now owns 2,773 shares of the business services provider’s stock valued at $812,000 after acquiring an additional 212 shares in the last quarter. Choreo LLC boosted its stake in Automatic Data Processing by 23.1% during the 4th quarter. Choreo LLC now owns 57,312 shares of the business services provider’s stock valued at $16,802,000 after purchasing an additional 10,760 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Automatic Data Processing by 15.1% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 129,233 shares of the business services provider’s stock worth $38,207,000 after purchasing an additional 17,000 shares in the last quarter. Finally, Hager Investment Management Services LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $69,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Finally, Barclays lifted 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $293.55.

Insider Buying and Selling

In related news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction 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 of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

ADP opened at $308.15 on Thursday. The firm has a market cap of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The company has a 50 day simple moving average of $297.15 and a two-hundred day simple moving average of $285.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed 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 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

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.