Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Tran Capital Management L.P.

Tran Capital Management L.P. reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.3% in the 4th quarter, HoldingsChannel reports. The fund owned 3,927 shares of the business services provider’s stock after selling 1,402 shares during the quarter. Tran Capital Management L.P.’s holdings in Automatic Data Processing were worth $1,150,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Moody Lynn & Lieberson LLC grew its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Moody Lynn & Lieberson LLC now owns 18,428 shares of the business services provider’s stock valued at $5,394,000 after buying an additional 268 shares during the last quarter. Flagship Harbor Advisors LLC boosted its stake in Automatic Data Processing by 1.7% in the fourth quarter. Flagship Harbor Advisors LLC now owns 2,693 shares of the business services provider’s stock valued at $788,000 after acquiring an additional 45 shares in the last quarter. Running Oak Capital LLC boosted its stake in Automatic Data Processing by 4.9% in the fourth quarter. Running Oak Capital LLC now owns 49,550 shares of the business services provider’s stock valued at $14,505,000 after acquiring an additional 2,321 shares in the last quarter. B.O.S.S. Retirement Advisors LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth about $384,000. Finally, Monte Financial Group LLC increased its position in shares of Automatic Data Processing by 1.5% during the fourth quarter. Monte Financial Group LLC now owns 16,877 shares of the business services provider’s stock worth $4,940,000 after purchasing an additional 243 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ:ADP opened at $297.10 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm’s 50-day simple moving average is $297.13 and its 200-day simple moving average is $282.10. The company has a market cap of $121.06 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared 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 is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is 65.74%.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday, January 19th. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. UBS Group increased their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $289.91.

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.