Investment Partners Asset Management Inc. Sells 40 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Investment Partners Asset Management Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,001 shares of the business services provider’s stock after selling 40 shares during the quarter. Investment Partners Asset Management Inc.’s holdings in Automatic Data Processing were worth $586,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in shares of Automatic Data Processing by 22.9% in the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after purchasing an additional 861 shares during the period. Creative Planning raised its position in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares during the period. Keystone Wealth Services LLC purchased a new position in shares of Automatic Data Processing during the 3rd quarter valued at $213,000. Petredis Investment Advisors LLC boosted its holdings in Automatic Data Processing by 0.4% in the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after buying an additional 37 shares during the period. Finally, CFM Wealth Partners LLC increased its stake in Automatic Data Processing by 3.3% in the 3rd quarter. CFM Wealth Partners LLC now owns 1,545 shares of the business services provider’s stock worth $428,000 after buying an additional 50 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. The trade was a 14.42 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the 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 transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last quarter. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group boosted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report 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 report on Friday, November 1st. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $306.65 on Thursday. The firm has a fifty day simple moving average of $297.32 and a two-hundred day simple moving average of $287.85. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $124.95 billion, a P/E ratio of 31.98, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly 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%. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Automatic Data Processing 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.