Glenview Trust co Sells 194 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Glenview Trust co trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,972 shares of the business services provider’s stock after selling 194 shares during the quarter. Glenview Trust co’s holdings in Automatic Data Processing were worth $4,675,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC grew its position in 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 in the last quarter. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at approximately $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The firm has a market cap of $118.88 billion, a PE ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The business has a fifty day simple moving average of $302.32 and a two-hundred day simple moving average of $294.74. 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 (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given 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 currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the firm’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on ADP shares. UBS Group boosted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Barclays raised their price objective 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. 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. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $296.18.

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.