Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Harbour Trust & Investment Management Co

Harbour Trust & Investment Management Co cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,771 shares of the business services provider’s stock after selling 124 shares during the period. Harbour Trust & Investment Management Co’s holdings in Automatic Data Processing were worth $5,495,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC lifted its holdings 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 during the last quarter. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the third quarter valued at approximately $35,000. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ADP shares. Jefferies Financial Group boosted 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. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays boosted their target price 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 equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the business’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 transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $305.97 on Monday. The stock’s fifty day simple moving average is $297.20 and its 200 day simple moving average is $286.66. The stock has a market capitalization of $124.67 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. 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 announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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 given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.