Burns Matteson Capital Management LLC Sells 134 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Burns Matteson Capital Management LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the 4th quarter, HoldingsChannel reports. The firm owned 2,699 shares of the business services provider’s stock after selling 134 shares during the period. Burns Matteson Capital Management LLC’s holdings in Automatic Data Processing were worth $790,000 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 ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC raised its stake in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth approximately $35,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $305.97 on Monday. 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 stock has a market capitalization of $124.67 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The stock’s 50 day moving average price is $297.20 and its 200-day moving average price is $286.66. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly 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 legal filing with the SEC, which is available at this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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 note on Friday, November 1st. Finally, Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. 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. According to data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and an average target price 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.