Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lessened by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 38,158 shares of the business services provider’s stock after selling 161 shares during the period. Oppenheimer & Co. Inc.’s holdings in Automatic Data Processing were worth $11,170,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC lifted its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $37,000. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on ADP. TD Cowen increased their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho increased their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Down 0.0 %

Shares of NASDAQ:ADP opened at $311.30 on Friday. The firm has a fifty day moving average of $300.24 and a two-hundred day moving average of $291.53. The firm has a market capitalization of $126.84 billion, a P/E ratio of 32.46, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $315.29. 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 (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders 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 dividend yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on 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 owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last quarter. Company insiders own 0.21% of the company’s stock.

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.