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

Foundations Investment Advisors LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,355 shares of the business services provider’s stock after selling 174 shares during the quarter. Foundations Investment Advisors LLC’s holdings in Automatic Data Processing were worth $1,275,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ADP. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $209,000. Nomura Asset Management Co. Ltd. increased its stake in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares during the last quarter. RIA Advisory Group LLC acquired a new stake in Automatic Data Processing during the third quarter worth approximately $470,000. Dash Acquisitions Inc. lifted its position in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after buying an additional 2,781 shares during the last quarter. Finally, DRW Securities LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $951,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $298.31 on Wednesday. The firm has a market cap of $121.55 billion, a price-to-earnings ratio of 31.84, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The firm’s fifty day moving average price is $297.18 and its 200 day moving average price is $283.23.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ADP. Royal Bank of Canada boosted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen boosted their price objective on 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, Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.

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.