Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mitchell Sinkler & Starr PA

Mitchell Sinkler & Starr PA trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 49.2% in the fourth quarter, HoldingsChannel.com reports. The firm owned 11,476 shares of the business services provider’s stock after selling 11,112 shares during the quarter. Automatic Data Processing comprises about 0.9% of Mitchell Sinkler & Starr PA’s investment portfolio, making the stock its 29th largest holding. Mitchell Sinkler & Starr PA’s holdings in Automatic Data Processing were worth $3,359,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the period. Cyrus J. Lawrence LLC lifted its stake in Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, 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 transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 473 shares of the company’s stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $300.83 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. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a market cap of $122.58 billion, a P/E ratio of 31.37, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The business has a fifty day moving average of $303.87 and a two-hundred day moving average of $296.20.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. As a group, analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.05%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

ADP has been the subject of several research reports. Barclays upped their price target 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. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $302.30.

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.