Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 49.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,476 shares of the business services provider’s stock after selling 11,112 shares during the quarter. Automatic Data Processing makes up 0.9% of Mitchell Sinkler & Starr PA’s holdings, making the stock its 29th biggest position. Mitchell Sinkler & Starr PA’s holdings in Automatic Data Processing were worth $3,359,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. OneAscent Wealth Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $486,000. Biondo Investment Advisors LLC grew its stake in Automatic Data Processing by 1.4% in the 4th quarter. Biondo Investment Advisors LLC now owns 39,547 shares of the business services provider’s stock valued at $11,577,000 after acquiring an additional 528 shares during the period. Allstate Corp purchased a new stake in Automatic Data Processing in the 4th quarter worth $3,540,000. Maridea Wealth Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $220,000. Finally, Brown Brothers Harriman & Co. lifted its holdings in Automatic Data Processing by 1.4% during the fourth quarter. Brown Brothers Harriman & Co. now owns 704,237 shares of the business services provider’s stock valued at $206,151,000 after purchasing an additional 9,929 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.5 %

Shares of NASDAQ:ADP opened at $300.83 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a market cap of $122.58 billion, a P/E ratio of 31.37, a PEG ratio of 3.62 and a beta of 0.76. The business has a fifty day moving average of $303.87 and a two-hundred day moving average of $296.20. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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%. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 annualized dividend and a yield of 2.05%. Automatic Data Processing’s payout ratio is 64.23%.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value 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 a total of 5,951 shares of company stock valued at $1,762,074 over the last quarter. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on ADP shares. Barclays upped 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 report on Monday, February 3rd. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, UBS Group raised their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. One equities research 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’s stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $302.30.

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.