Latitude Advisors LLC Has $227,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Latitude Advisors LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.8% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 777 shares of the business services provider’s stock after selling 57 shares during the period. Latitude Advisors LLC’s holdings in Automatic Data Processing were worth $227,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the company. Stonebridge Financial Group LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at about $5,568,000. Arlington Partners LLC boosted its holdings in Automatic Data Processing by 3.5% in the fourth quarter. Arlington Partners LLC now owns 15,174 shares of the business services provider’s stock valued at $4,442,000 after acquiring an additional 510 shares during the last quarter. Equitable Trust Co. increased its position in Automatic Data Processing by 3.4% in the fourth quarter. Equitable Trust Co. now owns 22,917 shares of the business services provider’s stock worth $6,708,000 after purchasing an additional 744 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC acquired a new stake in Automatic Data Processing in the fourth quarter worth about $205,000. Finally, Soltis Investment Advisors LLC raised its holdings in Automatic Data Processing by 2.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,983 shares of the business services provider’s stock worth $873,000 after purchasing an additional 70 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’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 transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ADP. Jefferies Financial Group raised their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ ADP opened at $306.93 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month 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. The firm has a market cap of $125.06 billion, a PE ratio of 32.01, a P/E/G ratio of 3.60 and a beta of 0.79. The company’s fifty day simple moving average is $297.20 and its 200 day simple moving average is $286.94.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.