Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 13,607 shares of the business services provider’s stock after selling 1,059 shares during the period. Hantz Financial Services Inc.’s holdings in Automatic Data Processing were worth $3,983,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ADP. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $209,000. Nomura Asset Management Co. Ltd. raised its holdings in Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in Automatic Data Processing in the third quarter valued at about $470,000. Dash Acquisitions Inc. boosted its holdings in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $951,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Barclays upped their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two 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 stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $291.27.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This represents a 14.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Up 0.9 %

ADP stock opened at $303.26 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company’s 50 day simple moving average is $297.23 and its 200-day simple moving average is $283.77. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The firm has a market capitalization of $123.57 billion, a PE ratio of 32.37, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Equities analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

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.