Garner Asset Management Corp Sells 106 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Garner Asset Management Corp decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 4,019 shares of the business services provider’s stock after selling 106 shares during the period. Garner Asset Management Corp’s holdings in Automatic Data Processing were worth $1,177,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Cyrus J. Lawrence LLC raised its position in Automatic Data Processing by 121.8% in the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. HHM Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $41,000. Finally, Kieckhefer Group LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $299.54 on Friday. The stock’s 50 day moving average price is $302.38 and its 200-day moving average price is $297.56. 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. The stock has a market capitalization of $122.05 billion, a PE ratio of 31.23, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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 return on equity of 80.86% and a net margin of 19.76%. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. The trade was 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 sold 5,364 shares of company stock valued at $1,613,094. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on ADP shares. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Finally, Jefferies Financial Group raised their price objective 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. One research analyst has 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, the stock currently has an average rating of “Hold” and an average target price of $302.30.

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.