Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lessened by Clearstead Trust LLC

Clearstead Trust LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 39.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,620 shares of the business services provider’s stock after selling 9,329 shares during the period. Automatic Data Processing makes up 0.9% of Clearstead Trust LLC’s portfolio, making the stock its 19th biggest position. Clearstead Trust LLC’s holdings in Automatic Data Processing were worth $4,280,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC increased 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 acquiring an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $37,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ADP. Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group increased their target price 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. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ:ADP opened at $291.76 on Friday. The company has a market cap of $118.88 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76. The stock’s 50-day moving average is $302.32 and its 200-day moving average is $294.44. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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 research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,951 shares of company stock worth $1,762,074. Company insiders own 0.21% of the company’s stock.

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.