Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Cypress Capital Group

Cypress Capital Group reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,012 shares of the business services provider’s stock after selling 627 shares during the period. Cypress Capital Group’s holdings in Automatic Data Processing were worth $2,345,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Harbour Investments Inc. grew its position in shares of Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the last quarter. Aspiriant LLC grew its position in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the last quarter. Precedent Wealth Partners LLC grew its position in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares during the last quarter. Riversedge Advisors LLC grew its position in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares during the last quarter. Finally, Gilbert & Cook Inc. grew its position in shares of Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock worth $539,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP stock opened at $313.44 on Wednesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm has a market capitalization of $127.71 billion, a PE ratio of 32.68, a P/E/G ratio of 3.62 and a beta of 0.79. The firm has a 50-day moving average of $301.49 and a two-hundred day moving average of $293.07.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates 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, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ADP shares. UBS Group upped their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $296.18.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by corporate insiders.

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.