Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Argus Investors Counsel Inc.

Argus Investors Counsel Inc. trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,627 shares of the business services provider’s stock after selling 77 shares during the quarter. Argus Investors Counsel Inc.’s holdings in Automatic Data Processing were worth $1,062,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of 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 lifted its stake 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 buying an additional 149 shares during the last quarter. Hexagon Capital Partners LLC boosted its stake in Automatic Data Processing by 78.5% during 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. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $37,000. Finally, Capital Performance Advisors LLP acquired a new position in Automatic Data Processing in the third quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two 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 stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $308.15 on Thursday. 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 business’s fifty day moving average price is $297.17 and its two-hundred day moving average price is $285.83. The stock has a market cap of $125.56 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.