Valley National Advisers Inc. Sells 495 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Valley National Advisers Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 31.6% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,071 shares of the business services provider’s stock after selling 495 shares during the period. Valley National Advisers Inc.’s holdings in Automatic Data Processing were worth $313,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC lifted 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 purchasing an additional 149 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in shares of Automatic Data Processing by 78.5% during the third 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 during the last quarter. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the third quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ADP. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday. UBS Group boosted their target price 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, Barclays increased their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two investment 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, the company currently has a consensus rating of “Hold” and a consensus target price of $291.27.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $303.01 on Monday. The company has a market capitalization of $123.46 billion, a P/E ratio of 31.60, a P/E/G ratio of 3.50 and a beta of 0.79. The business has a fifty day simple moving average of $297.16 and a two-hundred day simple moving average of $284.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 return on equity of 81.85% and a net margin of 19.76%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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 paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

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.