Newman Dignan & Sheerar Inc. Sells 35 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Newman Dignan & Sheerar Inc. reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,900 shares of the business services provider’s stock after selling 35 shares during the quarter. Newman Dignan & Sheerar Inc.’s holdings in Automatic Data Processing were worth $1,727,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC grew its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the third quarter worth about $35,000. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Stock Down 0.7 %

ADP stock opened at $308.15 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The stock has a market cap of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The business’s 50-day moving average price is $297.49 and its 200-day moving average price is $288.00. 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 quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates 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, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued 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 yield of 2.00%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on ADP shares. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho raised their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $293.55.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, 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 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 sale, the vice president now directly owns 13,706 shares in the company, valued at $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. In the last three months, insiders have sold 5,478 shares of company stock valued at $1,617,241. Corporate insiders own 0.21% of the company’s stock.

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.