Oppenheimer Asset Management Inc. Sells 339 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Oppenheimer Asset Management Inc. decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 11,546 shares of the business services provider’s stock after selling 339 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Automatic Data Processing were worth $3,380,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Creative Financial Designs Inc. ADV increased its position in shares of Automatic Data Processing by 7.3% during the 3rd quarter. Creative Financial Designs Inc. ADV now owns 589 shares of the business services provider’s stock valued at $163,000 after purchasing an additional 40 shares during the last quarter. Gladstone Institutional Advisory LLC increased its holdings in Automatic Data Processing by 1.4% during the third quarter. Gladstone Institutional Advisory LLC now owns 4,479 shares of the business services provider’s stock valued at $1,240,000 after buying an additional 60 shares during the last quarter. Weatherly Asset Management L. P. bought a new position in Automatic Data Processing in the third quarter worth approximately $216,000. Dash Acquisitions Inc. boosted its stake 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 acquiring an additional 2,781 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its position in shares of Automatic Data Processing by 3.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 10,084 shares of the business services provider’s stock valued at $2,790,000 after acquiring an additional 314 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ADP. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group increased 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 note on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Up 1.2 %

Shares of Automatic Data Processing stock opened at $315.18 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $128.42 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $316.46. The business has a 50-day moving average price of $300.66 and a 200-day moving average price of $292.13.

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, beating the consensus estimate 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 anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

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.