Latitude Advisors LLC Sells 57 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Latitude Advisors LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 at the end of the most recent reporting period.

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

Insider Activity

In related news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % 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 worth $1,617,241 in the last quarter. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $306.93 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. 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 $125.06 billion, a PE ratio of 32.01, a P/E/G ratio of 3.60 and a beta of 0.79. The business has a 50-day simple moving average of $297.20 and a two-hundred day simple moving average of $286.94.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate 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, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders 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 dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Wall Street Analyst Weigh In

ADP has been the subject of several recent analyst reports. TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment 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. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $293.55.

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.