Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. cut its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 245,571 shares of the business services provider’s stock after selling 35,456 shares during the period. Bessemer Group Inc.’s holdings in Automatic Data Processing were worth $71,885,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $455,993,000. Winslow Capital Management LLC acquired a new position in Automatic Data Processing during the fourth quarter valued at $396,714,000. Raymond James Financial Inc. acquired a new position in Automatic Data Processing during the fourth quarter valued at $342,942,000. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Finally, Amundi grew its position in Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after purchasing an additional 449,431 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $294.69 on Thursday. The business’s 50 day moving average price is $302.79 and its 200 day moving average price is $297.29. The company has a market cap of $120.07 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.62 and a beta of 0.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The stock was 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 of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,364 shares of company stock worth $1,613,094 in the last 90 days. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ADP shares. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $302.30.

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.