White Pine Investment CO Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

White Pine Investment CO decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,944 shares of the business services provider’s stock after selling 177 shares during the quarter. White Pine Investment CO’s holdings in Automatic Data Processing were worth $862,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC lifted its position in Automatic Data Processing by 28.5% in the 2nd quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock worth $2,258,000 after buying an additional 2,096 shares during the last quarter. Thrivent Financial for Lutherans grew its position in Automatic Data Processing by 3.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock worth $28,826,000 after acquiring an additional 4,427 shares during the last quarter. 1832 Asset Management L.P. increased its stake in Automatic Data Processing by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC lifted its position in Automatic Data Processing by 12.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock valued at $516,000 after purchasing an additional 212 shares during the last quarter. Finally, Public Sector Pension Investment Board boosted its stake in shares of Automatic Data Processing by 71.0% during the second quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock valued at $3,703,000 after purchasing an additional 6,439 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on 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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last quarter. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

ADP has been the topic of several analyst reports. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Citigroup raised their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Up 0.7 %

Shares of NASDAQ ADP opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a 50-day moving average of $297.69 and a 200 day moving average of $281.01. The stock has a market cap of $121.48 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the firm posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Automatic Data Processing Company 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.