Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 73.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,785 shares of the business services provider’s stock after selling 26,685 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Automatic Data Processing were worth $2,864,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in ADP. Amalgamated Bank raised its position in Automatic Data Processing by 5.4% during the fourth quarter. Amalgamated Bank now owns 92,767 shares of the business services provider’s stock valued at $27,156,000 after acquiring an additional 4,756 shares in the last quarter. FourThought Financial Partners LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $1,505,000. Commonwealth Retirement Investments LLC increased its holdings in shares of Automatic Data Processing by 1.7% during the 4th quarter. Commonwealth Retirement Investments LLC now owns 5,103 shares of the business services provider’s stock valued at $1,494,000 after purchasing an additional 85 shares in the last quarter. Mengis Capital Management Inc. lifted its stake in shares of Automatic Data Processing by 2.6% in the 4th quarter. Mengis Capital Management Inc. now owns 10,173 shares of the business services provider’s stock valued at $2,978,000 after purchasing an additional 255 shares during the period. Finally, BankPlus Trust Department purchased a new stake in Automatic Data Processing during the fourth quarter worth $3,709,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $293.55.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value 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 represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Down 0.0 %

Shares of ADP stock opened at $311.30 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $315.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock’s fifty day moving average is $300.24 and its two-hundred day moving average is $291.53. The firm has a market capitalization of $126.84 billion, a P/E ratio of 32.46, a PEG ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. Research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.