Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by King Luther Capital Management Corp

King Luther Capital Management Corp lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% during the fourth quarter, Holdings Channel.com reports. The firm owned 66,289 shares of the business services provider’s stock after selling 2,336 shares during the period. King Luther Capital Management Corp’s holdings in Automatic Data Processing were worth $19,405,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC raised its position in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 3.5 %

NASDAQ ADP opened at $292.44 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The firm has a 50 day moving average of $302.27 and a two-hundred day moving average of $294.33. The stock has a market capitalization of $119.16 billion, a PE ratio of 30.49, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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, beating the consensus estimate 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, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s 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 of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 over the last three months. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on ADP. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. 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. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $296.18.

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.