Notis McConarty Edward Sells 1,611 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Notis McConarty Edward lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.9% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 30,953 shares of the business services provider’s stock after selling 1,611 shares during the period. Automatic Data Processing makes up approximately 4.4% of Notis McConarty Edward’s holdings, making the stock its 6th largest position. Notis McConarty Edward’s holdings in Automatic Data Processing were worth $9,061,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider’s stock worth $11,923,265,000 after purchasing an additional 277,324 shares during the period. Geode Capital Management LLC grew its position in Automatic Data Processing by 0.6% during the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider’s stock worth $3,098,305,000 after buying an additional 65,965 shares in the last quarter. Amundi grew its position in Automatic Data Processing by 16.8% during the fourth 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 in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in Automatic Data Processing by 3.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock valued at $679,675,000 after acquiring an additional 69,042 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $455,993,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,368 shares of company stock valued at $1,903,541. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $286.13 on Friday. The stock has a market capitalization of $116.59 billion, a P/E ratio of 29.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The firm has a 50 day moving average of $304.41 and a 200-day moving average of $297.03. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted 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%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.15%. The ex-dividend date of this dividend was Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $302.30.

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.