Mutual Advisors LLC Sells 190 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mutual Advisors LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the 4th quarter, Holdings Channel reports. The firm owned 7,153 shares of the business services provider’s stock after selling 190 shares during the quarter. Mutual Advisors LLC’s holdings in Automatic Data Processing were worth $2,119,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the third quarter valued at about $26,000. Dunhill Financial LLC raised its holdings in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC raised its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the third quarter valued at about $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on ADP shares. Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. Barclays increased their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. UBS Group increased their price target 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. Finally, Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Performance

ADP opened at $297.10 on Friday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $121.06 billion, a P/E ratio of 31.71, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The firm’s 50-day moving average price is $297.14 and its 200-day moving average price is $281.66.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company earned $2.08 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.