Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by AIA Group Ltd

AIA Group Ltd reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 145,323 shares of the business services provider’s stock after selling 16,705 shares during the period. Automatic Data Processing accounts for about 1.0% of AIA Group Ltd’s holdings, making the stock its 25th biggest position. AIA Group Ltd’s holdings in Automatic Data Processing were worth $42,540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter valued at $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 worth $29,000 after purchasing an additional 149 shares during the last quarter. Cyrus J. Lawrence LLC grew its holdings in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.5 %

Shares of ADP opened at $300.83 on Monday. 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, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a market cap of $122.58 billion, a PE ratio of 31.37, a P/E/G ratio of 3.62 and a beta of 0.76. The stock’s 50-day moving average is $303.87 and its two-hundred day moving average is $296.45.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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 9.93 earnings per share for the current fiscal 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 given 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 2.05%. Automatic Data Processing’s payout ratio is currently 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value 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. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock worth $1,762,074 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on ADP. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. 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. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their target price 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. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $302.30.

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.