Jacobi Capital Management LLC Sells 62 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Jacobi Capital Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,908 shares of the business services provider’s stock after selling 62 shares during the period. Jacobi Capital Management LLC’s holdings in Automatic Data Processing were worth $1,729,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ADP. West Michigan Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at about $300,000. Fisher Asset Management LLC raised its stake in Automatic Data Processing by 19.0% in the 4th quarter. Fisher Asset Management LLC now owns 2,279 shares of the business services provider’s stock valued at $667,000 after acquiring an additional 364 shares during the period. SVB Wealth LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at about $12,897,000. Waterway Wealth Management LLC raised its stake in Automatic Data Processing by 5.5% in the 4th quarter. Waterway Wealth Management LLC now owns 1,057 shares of the business services provider’s stock valued at $309,000 after acquiring an additional 55 shares during the period. Finally, Dynasty Wealth Management LLC raised its stake in Automatic Data Processing by 3.1% in the 4th quarter. Dynasty Wealth Management LLC now owns 7,241 shares of the business services provider’s stock valued at $2,120,000 after acquiring an additional 218 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ADP. Barclays boosted their price objective 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. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price 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 given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was 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 in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred 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. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Up 1.2 %

Shares of NASDAQ ADP opened at $315.18 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $316.46. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $128.42 billion, a price-to-earnings ratio of 32.87, a PEG ratio of 3.62 and a beta of 0.79. The business has a 50-day moving average of $300.66 and a 200-day moving average of $292.13.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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%. Sell-side 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 firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend 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.