Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 998,510 shares of the business services provider’s stock after selling 727 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.25% of Automatic Data Processing worth $292,294,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ADP. Accredited Investors Inc. increased its holdings in Automatic Data Processing by 4,431.5% in the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after buying an additional 2,264,202 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after acquiring an additional 1,190,407 shares during the period. Holocene Advisors LP purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after purchasing an additional 479,145 shares in the last quarter. Finally, State Street Corp boosted its position in Automatic Data Processing by 2.4% during 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 purchasing an additional 424,328 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several research analyst reports. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group increased their price objective 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. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Mizuho raised their price target 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. Finally, Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $308.97 on Friday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The stock has a market cap of $125.89 billion, a PE ratio of 32.22, a P/E/G ratio of 3.52 and a beta of 0.79. 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 stock has a 50 day moving average price of $297.17 and a 200 day moving average price of $285.83.

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, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 in the last 90 days. Insiders own 0.21% of the company’s stock.

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.