Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Decreased by WASHINGTON TRUST Co

WASHINGTON TRUST Co trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 77,320 shares of the business services provider’s stock after selling 749 shares during the quarter. WASHINGTON TRUST Co’s holdings in Automatic Data Processing were worth $22,634,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC lifted its position 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 worth $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing during the 4th quarter valued at $37,000. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Trading Down 0.7 %

Automatic Data Processing stock opened at $308.15 on Friday. The company has a 50 day moving average price of $297.49 and a 200 day moving average price of $288.00. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. 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 firm has a market capitalization of $125.56 billion, a price-to-earnings ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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 forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared 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 is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

Several brokerages recently weighed in on ADP. Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Mizuho raised their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling

In related news, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was 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 directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by company insiders.

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.