Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by TFC Financial Management Inc.

TFC Financial Management Inc. trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 4th quarter, Holdings Channel reports. The fund owned 2,238 shares of the business services provider’s stock after selling 35 shares during the quarter. TFC Financial Management Inc.’s holdings in Automatic Data Processing were worth $655,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Accredited Investors Inc. grew its holdings in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the period. International Assets Investment Management LLC lifted its position in Automatic Data Processing by 28,478.6% during the third quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock worth $3,305,780,000 after buying an additional 1,190,407 shares in the last quarter. Holocene Advisors LP purchased a new position in Automatic Data Processing during the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its position in Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares in the last quarter. Finally, State Street Corp lifted its position in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock worth $5,098,541,000 after buying an additional 424,328 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 362 shares of the firm’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 sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ ADP opened at $306.65 on Thursday. The stock has a market cap of $124.95 billion, a PE ratio of 31.98, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The business has a 50-day moving average price of $297.26 and a 200 day moving average price of $287.71.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given 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 yield of 2.01%. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. UBS Group lifted their price objective 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. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $293.55.

About Automatic Data Processing

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.