Northstar Asset Management Inc. Has $16.62 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Northstar Asset Management Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 56,766 shares of the business services provider’s stock after selling 2,105 shares during the period. Automatic Data Processing accounts for 4.4% of Northstar Asset Management Inc.’s portfolio, making the stock its 6th largest holding. Northstar Asset Management Inc.’s holdings in Automatic Data Processing were worth $16,617,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of ADP. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC grew its position in shares of 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 in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing in the third quarter worth about $35,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of several recent research reports. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group boosted 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. 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’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Down 0.7 %

Shares of NASDAQ ADP opened at $308.15 on Tuesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. 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 company has a market cap of $125.56 billion, a price-to-earnings ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The business’s 50 day moving average price is $297.56 and its 200-day moving average price is $288.77.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last three months. Corporate 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.