Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Spinnaker Trust

Spinnaker Trust lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% in the fourth quarter, HoldingsChannel reports. The firm owned 22,701 shares of the business services provider’s stock after selling 508 shares during the quarter. Spinnaker Trust’s holdings in Automatic Data Processing were worth $6,645,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in ADP. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $209,000. Nomura Asset Management Co. Ltd. grew its holdings in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $470,000. Littlejohn Financial Services Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $708,000. Finally, Dash Acquisitions Inc. lifted its position in shares of Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after buying an additional 2,781 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP opened at $308.15 on Friday. 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 $125.56 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79. The company’s fifty day moving average is $297.49 and its two-hundred day moving average is $288.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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 $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction 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 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 ownership of the stock. 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 owned by company insiders.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $293.55.

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.