Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Boston Family Office LLC

Boston Family Office LLC trimmed its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 70,568 shares of the business services provider’s stock after selling 504 shares during the period. Automatic Data Processing accounts for about 1.4% of Boston Family Office LLC’s investment portfolio, making the stock its 24th biggest holding. Boston Family Office LLC’s holdings in Automatic Data Processing were worth $20,657,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC grew its position in shares of Automatic Data Processing by 346.5% during the 3rd 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. Cyrus J. Lawrence LLC raised its stake in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in Automatic Data Processing in the fourth quarter valued at approximately $37,000. 80.03% of the stock is owned by institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $305.53 on Tuesday. The business has a 50 day moving average price of $304.05 and a two-hundred day moving average price of $296.64. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $124.49 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its 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%. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. Automatic Data Processing’s payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One investment analyst has 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 MarketBeat, the company has an average rating of “Hold” and a consensus target price of $302.30.

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.