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

Clearbridge Investments LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 784,823 shares of the business services provider’s stock after selling 20,814 shares during the quarter. Clearbridge Investments LLC owned about 0.19% of Automatic Data Processing worth $229,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter valued at about $26,000. Dunhill Financial LLC boosted its position 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 period. Cyrus J. Lawrence LLC increased its holdings in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after purchasing an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at approximately $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred 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 directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 over the last ninety days. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research reports. UBS Group lifted their price objective 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. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One analyst has 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, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $302.30.

Automatic Data Processing Trading Down 1.5 %

Shares of NASDAQ:ADP opened at $300.83 on Monday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company’s 50 day moving average is $303.87 and its two-hundred day moving average is $296.45. The company 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 company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

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%. Equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.05%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Automatic Data Processing Company 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.