Sanibel Captiva Trust Company Inc. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sanibel Captiva Trust Company Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,261 shares of the business services provider’s stock after selling 43 shares during the quarter. Sanibel Captiva Trust Company Inc.’s holdings in Automatic Data Processing were worth $3,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in shares of Automatic Data Processing in the 2nd quarter worth approximately $27,000. Dunhill Financial LLC boosted its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Hexagon Capital Partners LLC lifted its position in shares of Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing during the 3rd quarter valued at approximately $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $296.18 on Friday. The firm has a market cap of $120.68 billion, a P/E ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The company has a 50 day moving average of $298.07 and a 200 day moving average of $279.57. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced 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. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the business posted $2.08 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of a number of research reports. Jefferies Financial Group increased their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Mizuho increased their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Citigroup boosted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Barclays raised their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Finally, 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing 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.