Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 44.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,500 shares of the business services provider’s stock after selling 2,000 shares during the quarter. Wolverine Asset Management LLC’s holdings in Automatic Data Processing were worth $732,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in the company. Boston Financial Mangement LLC increased its position in Automatic Data Processing by 0.4% during the fourth quarter. Boston Financial Mangement LLC now owns 31,048 shares of the business services provider’s stock worth $9,089,000 after buying an additional 114 shares during the period. Auour Investments LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $210,000. Concurrent Investment Advisors LLC increased its holdings in shares of Automatic Data Processing by 3.7% in the fourth quarter. Concurrent Investment Advisors LLC now owns 30,603 shares of the business services provider’s stock valued at $8,959,000 after purchasing an additional 1,090 shares during the period. Advyzon Investment Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $238,000. Finally, Mcdaniel Terry & Co. increased its holdings in shares of Automatic Data Processing by 5.5% in the fourth quarter. Mcdaniel Terry & Co. now owns 195,076 shares of the business services provider’s stock valued at $57,105,000 after purchasing an additional 10,158 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the 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 transaction, the vice president now owns 3,063 shares in the company, 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. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 over the last quarter. Insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent research reports. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Barclays lifted 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. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Down 0.4 %

ADP opened at $310.76 on Friday. The business’s fifty day moving average is $298.72 and its two-hundred day moving average is $290.32. 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 company has a market cap of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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 return on equity of 80.86% and a net margin of 19.76%. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS 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 paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 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.