Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by AGF Management Ltd.

AGF Management Ltd. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.8% during the 4th quarter, Holdings Channel reports. The firm owned 23,743 shares of the business services provider’s stock after selling 3,797 shares during the quarter. AGF Management Ltd.’s holdings in Automatic Data Processing were worth $6,950,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in ADP. Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at $342,942,000. Proficio Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the last quarter. Holocene Advisors LP acquired a new stake in shares of Automatic Data Processing during the third quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares during the last quarter. Finally, Amundi boosted its stake in Automatic Data Processing by 16.8% in the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after buying an additional 449,431 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s 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 sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $294.18 on Thursday. The stock’s 50-day moving average is $302.30 and its 200-day moving average is $294.33. The company has a market cap of $119.87 billion, a price-to-earnings ratio of 30.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s payout ratio is currently 64.23%.

Analyst Ratings Changes

ADP has been the topic of a number of research analyst reports. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $296.18.

About Automatic Data Processing

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.