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

Wolverine Asset Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 44.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,500 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Automatic Data Processing were worth $732,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC increased its stake in shares of Automatic Data Processing by 346.5% in the 3rd 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 last quarter. Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $35,000. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $310.76 on Friday. The business has a 50-day moving average of $298.72 and a 200 day moving average of $290.32. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72. The stock has a market capitalization of $126.62 billion, a price-to-earnings ratio of 32.40, a price-to-earnings-growth ratio of 3.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 return on equity of 80.86% and a net margin of 19.76%. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed 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 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Insider Activity

In other news, CEO Maria Black sold 721 shares of the firm’s 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 sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated 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 position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $293.55.

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.