Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Lowered by Saybrook Capital NC

Saybrook Capital NC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 68,299 shares of the business services provider’s stock after selling 82 shares during the period. Automatic Data Processing makes up approximately 5.3% of Saybrook Capital NC’s holdings, making the stock its 7th largest holding. Saybrook Capital NC’s holdings in Automatic Data Processing were worth $19,993,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. AMG National Trust Bank lifted its holdings in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after acquiring an additional 33 shares during the last quarter. Harbour Investments Inc. raised its position in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares during the period. Aspiriant LLC raised its position in Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the period. Precedent Wealth Partners LLC raised its position in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares during the period. Finally, Riversedge Advisors LLC raised its position in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the sale, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were 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 approximately $4,027,233.98. This trade represents a 2.57 % 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 valued at $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Barclays raised 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Trading Up 1.3 %

Shares of Automatic Data Processing stock opened at $306.45 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 has a fifty day moving average price of $302.08 and a 200 day moving average price of $293.75. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The stock has a market cap of $124.87 billion, a PE ratio of 31.96, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

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

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s payout ratio is 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.