DeDora Capital Inc. Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

DeDora Capital Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,530 shares of the business services provider’s stock after selling 45 shares during the quarter. DeDora Capital Inc.’s holdings in Automatic Data Processing were worth $740,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Asset Planning Inc purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $110,000. Pictet North America Advisors SA increased its position in shares of Automatic Data Processing by 122.9% in the fourth quarter. Pictet North America Advisors SA now owns 32,424 shares of the business services provider’s stock valued at $9,491,000 after buying an additional 17,879 shares in the last quarter. Littlejohn Financial Services Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $708,000. Values Added Financial LLC increased its position in shares of Automatic Data Processing by 2.8% in the fourth quarter. Values Added Financial LLC now owns 1,788 shares of the business services provider’s stock valued at $523,000 after buying an additional 48 shares in the last quarter. Finally, IMS Capital Management increased its position in shares of Automatic Data Processing by 0.6% in the fourth quarter. IMS Capital Management now owns 9,417 shares of the business services provider’s stock valued at $2,757,000 after buying an additional 58 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction on 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 represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were 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 directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 in the last quarter. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.7 %

Shares of NASDAQ:ADP opened at $308.15 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business has a fifty day moving average of $297.49 and a two-hundred day moving average of $288.00. The stock has a market cap of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. 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 earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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, research 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. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analysts Set New Price Targets

Several analysts recently commented on ADP shares. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus 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.