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

Jag Capital Management LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 25.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 764 shares of the business services provider’s stock after selling 255 shares during the period. Jag Capital Management LLC’s holdings in Automatic Data Processing were worth $224,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the third quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. 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 quarter. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on ADP. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Mizuho increased their target price 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. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. 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 note on Thursday, January 30th. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Up 1.1 %

Shares of Automatic Data Processing stock opened at $318.64 on Tuesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $320.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $301.15 and its two-hundred day moving average price is $292.72. The company has a market capitalization of $129.83 billion, a P/E ratio of 33.23, a PEG ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s payout ratio is 64.23%.

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.