Automatic Data Processing, Inc. (NASDAQ:ADP) Position Reduced by TFG Advisers LLC

TFG Advisers LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,787 shares of the business services provider’s stock after selling 454 shares during the period. Automatic Data Processing comprises approximately 2.6% of TFG Advisers LLC’s portfolio, making the stock its 7th largest position. TFG Advisers LLC’s holdings in Automatic Data Processing were worth $7,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of ADP. Golden State Wealth Management LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $128,000. Global X Japan Co. Ltd. raised its holdings in Automatic Data Processing by 5.3% during the 4th quarter. Global X Japan Co. Ltd. now owns 1,797 shares of the business services provider’s stock valued at $526,000 after buying an additional 90 shares during the last quarter. William Allan Corp boosted its position in Automatic Data Processing by 1.2% during the 4th quarter. William Allan Corp now owns 21,368 shares of the business services provider’s stock valued at $6,255,000 after buying an additional 257 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Automatic Data Processing by 4.1% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,637 shares of the business services provider’s stock worth $15,701,000 after acquiring an additional 2,119 shares during the last quarter. Finally, Strategic Financial Concepts LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter valued at about $26,723,000. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred 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. This represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,478 shares of company stock valued at $1,617,241. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. TD Cowen increased their target price 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. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. 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 note on Thursday, January 30th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two 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’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Down 1.0 %

Shares of Automatic Data Processing stock opened at $305.97 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The firm has a market cap of $124.67 billion, a price-to-earnings ratio of 31.91, a PEG ratio of 3.52 and a beta of 0.79. The company has a 50-day moving average of $297.21 and a 200 day moving average of $285.99. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. 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.