Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Condor Capital Management

Condor Capital Management cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,919 shares of the business services provider’s stock after selling 63 shares during the period. Condor Capital Management’s holdings in Automatic Data Processing were worth $1,147,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Quest Partners LLC grew its holdings in shares of Automatic Data Processing by 2,248.7% during the third quarter. Quest Partners LLC now owns 3,711 shares of the business services provider’s stock worth $1,027,000 after purchasing an additional 3,553 shares during the last quarter. Prospera Private Wealth LLC purchased a new position in shares of Automatic Data Processing during the third quarter worth about $273,000. Darwin Wealth Management LLC purchased a new position in shares of Automatic Data Processing during the third quarter worth about $84,000. Moors & Cabot Inc. grew its holdings in shares of Automatic Data Processing by 1.5% during the third quarter. Moors & Cabot Inc. now owns 5,783 shares of the business services provider’s stock worth $1,600,000 after purchasing an additional 85 shares during the last quarter. Finally, Cornerstone Advisors LLC grew its holdings in shares of Automatic Data Processing by 28.8% during the third quarter. Cornerstone Advisors LLC now owns 18,800 shares of the business services provider’s stock worth $5,203,000 after purchasing an additional 4,200 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last quarter. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $297.51 on Friday. The company has a 50-day moving average price of $302.91 and a 200 day moving average price of $295.08. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. 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 company has a market cap of $121.22 billion, a P/E ratio of 31.02, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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 return on equity of 80.86% and a net margin of 19.76%. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on ADP shares. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report 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 report on Monday, February 3rd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $296.18.

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.