Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Glen Eagle Advisors LLC

Glen Eagle Advisors LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,860 shares of the business services provider’s stock after selling 247 shares during the period. Glen Eagle Advisors LLC’s holdings in Automatic Data Processing were worth $544,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Main Street Group LTD lifted its holdings in Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC lifted its holdings in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Banque de Luxembourg S.A. bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group lifted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. TD Securities lifted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a report on Thursday, May 1st. Finally, Jefferies Financial Group lifted 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, January 30th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $303.55.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $322.80 on Wednesday. The company’s fifty day moving average is $299.51 and its two-hundred day moving average is $300.53. 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, Inc. has a 12-month low of $231.27 and a 12-month high of $323.17. The company has a market cap of $131.03 billion, a P/E ratio of 33.66, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. The company’s revenue was up 5.7% on a year-over-year basis. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,451 shares of company stock worth $743,024. Corporate insiders own 0.21% of the company’s stock.

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.