Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Spinnaker Trust

Spinnaker Trust lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 22,701 shares of the business services provider’s stock after selling 508 shares during the quarter. Spinnaker Trust’s holdings in Automatic Data Processing were worth $6,645,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Creative Planning lifted its holdings in Automatic Data Processing by 2.8% during the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares in the last quarter. Cornerstone Wealth Management LLC purchased a new position in Automatic Data Processing during the third quarter valued at $827,000. Good Life Advisors LLC lifted its holdings in Automatic Data Processing by 11.1% during the third quarter. Good Life Advisors LLC now owns 1,993 shares of the business services provider’s stock valued at $551,000 after purchasing an additional 199 shares in the last quarter. Trifecta Capital Advisors LLC lifted its holdings in Automatic Data Processing by 22.1% during the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock valued at $61,000 after purchasing an additional 40 shares in the last quarter. Finally, Marshall Financial Group LLC purchased a new position in Automatic Data Processing during the third quarter valued at $206,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated 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 owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % 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 valued at $1,617,241 over the last ninety days. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Mizuho increased their price objective 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. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $308.15 on Friday. 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 firm’s 50-day moving average is $297.49 and its two-hundred day moving average is $288.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company has a market capitalization of $125.56 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.