Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 529,594 shares of the business services provider’s stock after selling 96 shares during the quarter. Principal Financial Group Inc. owned 0.13% of Automatic Data Processing worth $155,028,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sierra Ocean LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $235,000. Monument Capital Management increased its holdings in Automatic Data Processing by 9.8% in the fourth quarter. Monument Capital Management now owns 1,192 shares of the business services provider’s stock valued at $349,000 after buying an additional 106 shares during the last quarter. Pinnacle Wealth Management Advisory Group LLC boosted its stake in Automatic Data Processing by 145.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 11,762 shares of the business services provider’s stock valued at $3,443,000 after acquiring an additional 6,966 shares during the period. Valmark Advisers Inc. boosted its stake in Automatic Data Processing by 0.9% in the fourth quarter. Valmark Advisers Inc. now owns 12,286 shares of the business services provider’s stock valued at $3,596,000 after acquiring an additional 104 shares during the period. Finally, Strategic Financial Concepts LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $26,723,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research firms have weighed in on ADP. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $308.15 on Tuesday. The company’s fifty day moving average is $297.56 and its two-hundred day moving average is $288.77. 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, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The company has a market cap of $125.56 billion, a P/E ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

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 paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend 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%.

About Automatic Data Processing

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.