Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Foster & Motley Inc.

Foster & Motley Inc. cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,557 shares of the business services provider’s stock after selling 282 shares during the period. Foster & Motley Inc.’s holdings in Automatic Data Processing were worth $1,528,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in ADP. OFI Invest Asset Management bought a new stake in Automatic Data Processing during the third quarter valued at $25,000. Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Raleigh Capital Management Inc. grew its position in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Carmel Capital Partners LLC grew its position in shares of Automatic Data Processing by 43.4% during the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after acquiring an additional 69 shares during the last quarter. Finally, VisionPoint Advisory Group LLC grew its position in shares of Automatic Data Processing by 323.2% during the third quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after acquiring an additional 181 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,162 shares of company stock worth $3,741,859. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $246.84 on Wednesday. The company has a market capitalization of $101.40 billion, a price-to-earnings ratio of 28.74, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $247.09 and its 200-day moving average is $239.21.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Mizuho upped their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Evercore ISI upped their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $254.58.

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.