Coastline Trust Co Cuts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Coastline Trust Co trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,571 shares of the business services provider’s stock after selling 560 shares during the quarter. Coastline Trust Co’s holdings in Automatic Data Processing were worth $4,558,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Virtu Financial LLC increased its holdings in shares of Automatic Data Processing by 202.7% in the third quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider’s stock valued at $1,348,000 after purchasing an additional 3,261 shares during the period. Tudor Financial Inc. acquired a new stake in shares of Automatic Data Processing in the third quarter worth approximately $310,000. Anchor Investment Management LLC increased its position in Automatic Data Processing by 7.0% during the third quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider’s stock worth $4,257,000 after purchasing an additional 1,001 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its holdings in shares of Automatic Data Processing by 3.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider’s stock valued at $2,753,000 after purchasing an additional 337 shares during the last quarter. Finally, World Investment Advisors LLC grew its stake in shares of Automatic Data Processing by 22.6% during the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider’s stock valued at $2,066,000 after buying an additional 1,378 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.3 %

Shares of Automatic Data Processing stock opened at $293.28 on Friday. The firm has a market cap of $119.50 billion, a price-to-earnings ratio of 30.58, a P/E/G ratio of 3.62 and a beta of 0.74. The stock has a 50-day simple moving average of $301.27 and a 200-day simple moving average of $298.11. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating 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, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. Automatic Data Processing’s dividend payout ratio is 64.23%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group increased 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. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $302.30.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at approximately $3,686,852.74. The trade was a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 4,775 shares of company stock valued at $1,447,893. Company 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.