Dash Acquisitions Inc. Sells 8,483 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Dash Acquisitions Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,846 shares of the business services provider’s stock after selling 8,483 shares during the period. Automatic Data Processing accounts for approximately 2.9% of Dash Acquisitions Inc.’s holdings, making the stock its 14th biggest position. Dash Acquisitions Inc.’s holdings in Automatic Data Processing were worth $13,080,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Boston Financial Mangement LLC lifted its holdings in shares of Automatic Data Processing by 0.4% during the fourth quarter. Boston Financial Mangement LLC now owns 31,048 shares of the business services provider’s stock worth $9,089,000 after buying an additional 114 shares during the last quarter. Auour Investments LLC bought a new position in Automatic Data Processing during the fourth quarter worth $210,000. Concurrent Investment Advisors LLC raised its stake in Automatic Data Processing by 3.7% during the 4th quarter. Concurrent Investment Advisors LLC now owns 30,603 shares of the business services provider’s stock valued at $8,959,000 after purchasing an additional 1,090 shares during the last quarter. Advyzon Investment Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $238,000. Finally, Mcdaniel Terry & Co. grew its position in Automatic Data Processing by 5.5% in the 4th quarter. Mcdaniel Terry & Co. now owns 195,076 shares of the business services provider’s stock worth $57,105,000 after purchasing an additional 10,158 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.1 %

Shares of NASDAQ ADP opened at $313.22 on Thursday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $127.62 billion, a price-to-earnings ratio of 32.66, a price-to-earnings-growth ratio of 3.59 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $313.72. The firm’s 50-day simple moving average is $298.18 and its 200 day simple moving average is $289.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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, 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 firm also recently announced 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 annualized dividend and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on ADP shares. Barclays lifted 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. 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. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus price target of $293.55.

Insiders Place Their Bets

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s 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 owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction 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. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

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.