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

Intech Investment Management LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 60.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,416 shares of the business services provider’s stock after selling 45,534 shares during the quarter. Intech Investment Management LLC’s holdings in Automatic Data Processing were worth $8,904,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC increased its position in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in Automatic Data Processing during the 4th quarter worth approximately $41,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 5,951 shares of company stock valued at $1,762,074 over the last quarter. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP stock opened at $295.93 on Wednesday. The company has a market cap of $120.58 billion, a price-to-earnings ratio of 30.86, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average of $302.66 and a 200-day moving average of $295.04. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its 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%. As a group, equities analysts expect 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. 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 2.08%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing 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.