Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by McKinley Carter Wealth Services Inc.

McKinley Carter Wealth Services Inc. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,380 shares of the business services provider’s stock after selling 74 shares during the period. McKinley Carter Wealth Services Inc.’s holdings in Automatic Data Processing were worth $3,331,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC lifted its holdings in Automatic Data Processing by 346.5% in 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 during the period. Hexagon Capital Partners LLC grew its position in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after buying an additional 51 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $35,000. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Trading Down 0.6 %

Shares of ADP opened at $298.31 on Wednesday. The business’s 50-day moving average price is $297.19 and its 200 day moving average price is $283.65. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $121.55 billion, a P/E ratio of 31.84, a P/E/G ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63.

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 19.72% and a return on equity of 82.36%. Analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 yield of 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.74%.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on ADP shares. Barclays increased their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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.