Fiduciary Group LLC Sells 75 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fiduciary Group LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the fourth quarter, Holdings Channel reports. The institutional investor owned 13,624 shares of the business services provider’s stock after selling 75 shares during the period. Fiduciary Group LLC’s holdings in Automatic Data Processing were worth $3,988,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% during the 3rd 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 acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth about $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $298.79 on Thursday. The stock has a market capitalization of $121.74 billion, a PE ratio of 31.16, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The stock’s 50-day moving average price is $302.80 and its 200-day moving average price is $295.07. 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 quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business 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 $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly 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 SEC, which is available through this hyperlink. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the transaction, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two 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, the stock has an average rating of “Hold” and an average target price of $296.18.

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.