Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Zacks Investment Management

Zacks Investment Management decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.8% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 141,930 shares of the business services provider’s stock after selling 5,641 shares during the period. Zacks Investment Management’s holdings in Automatic Data Processing were worth $41,547,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $708,000. Bath Savings Trust Co increased its stake in Automatic Data Processing by 2.0% during the 4th quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after buying an additional 1,951 shares during the period. Principal Financial Group Inc. lifted its holdings in Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock worth $146,581,000 after buying an additional 22,766 shares in the last quarter. Franklin Resources Inc. grew its stake in shares of Automatic Data Processing by 8.4% during the third quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after acquiring an additional 51,828 shares in the last quarter. Finally, Relyea Zuckerberg Hanson LLC lifted its stake in shares of Automatic Data Processing by 121.7% in the fourth quarter. Relyea Zuckerberg Hanson LLC now owns 12,898 shares of the business services provider’s stock worth $3,776,000 after acquiring an additional 7,080 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

ADP stock opened at $298.06 on Wednesday. The stock’s fifty day moving average is $302.03 and its two-hundred day moving average is $297.93. The stock has a market capitalization of $121.45 billion, a price-to-earnings ratio of 31.08, a PEG ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares of the company’s stock, valued at $2,158,682.96. The trade was a 6.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,775 shares of company stock valued at $1,447,893. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ADP shares. Barclays lifted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group boosted their price objective 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 two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $302.30.

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.