Focus Financial Network Inc. Sells 256 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Focus Financial Network Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 3,870 shares of the business services provider’s stock after selling 256 shares during the period. Focus Financial Network Inc.’s holdings in Automatic Data Processing were worth $1,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Arlington Partners LLC grew its position in shares of Automatic Data Processing by 3.5% during the 4th quarter. Arlington Partners LLC now owns 15,174 shares of the business services provider’s stock worth $4,442,000 after purchasing an additional 510 shares in the last quarter. Equitable Trust Co. boosted its stake in shares of Automatic Data Processing by 3.4% in the fourth quarter. Equitable Trust Co. now owns 22,917 shares of the business services provider’s stock valued at $6,708,000 after buying an additional 744 shares during the period. NORTHSTAR ASSET MANAGEMENT Co LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $205,000. Soltis Investment Advisors LLC increased its stake in Automatic Data Processing by 2.4% during the 4th quarter. Soltis Investment Advisors LLC now owns 2,983 shares of the business services provider’s stock worth $873,000 after acquiring an additional 70 shares during the period. Finally, Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ:ADP opened at $306.65 on Thursday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The company has a market capitalization of $124.95 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. 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 company has a fifty day moving average of $297.26 and a 200-day moving average of $287.71.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’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 sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Mizuho raised their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a 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. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group boosted their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.