Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Decreased by Blue Chip Partners LLC

Blue Chip Partners LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 11,467 shares of the business services provider’s stock after selling 73 shares during the quarter. Blue Chip Partners LLC’s holdings in Automatic Data Processing were worth $3,357,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the third quarter worth approximately $26,000. Dunhill Financial LLC increased its position in shares of Automatic Data Processing by 346.5% during the 3rd 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. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $35,000. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing during the fourth quarter valued at about $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing during the fourth quarter worth about $37,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

Shares of ADP opened at $308.15 on Monday. 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 firm has a market cap of $125.56 billion, a PE ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The firm’s 50 day moving average price is $297.56 and its 200 day moving average price is $288.77. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its 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 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 Dividend Announcement

The company also recently announced 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. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. UBS Group lifted their price objective on shares of 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 downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $293.55.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, 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 position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last three months. Company 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.