Sienna Gestion Sells 23,995 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Sienna Gestion trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 90.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,404 shares of the business services provider’s stock after selling 23,995 shares during the quarter. Sienna Gestion’s holdings in Automatic Data Processing were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. State Street Corp lifted its holdings in shares of Automatic Data Processing by 2.4% in 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. Geode Capital Management LLC lifted its stake in Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after purchasing an additional 41,709 shares in the last quarter. Amundi boosted its holdings in shares of Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Automatic Data Processing by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock valued at $679,675,000 after purchasing an additional 69,042 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

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 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 $4,027,233.98. This trade represents a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 over the last ninety days. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $290.55 on Friday. The company’s 50-day simple moving average is $302.32 and its two-hundred day simple moving average is $294.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a market capitalization of $118.39 billion, a P/E ratio of 30.30, a P/E/G ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. 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 2.12%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating 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 stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Company 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.