Delta Asset Management LLC TN Sells 90 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Delta Asset Management LLC TN lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,836 shares of the business services provider’s stock after selling 90 shares during the quarter. Delta Asset Management LLC TN’s holdings in Automatic Data Processing were worth $537,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing during the third quarter valued at approximately $26,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% during the 3rd 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 during the period. Cyrus J. Lawrence LLC lifted its stake in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the 4th quarter worth $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP opened at $302.41 on Thursday. The firm has a fifty day simple moving average of $303.59 and a two-hundred day simple moving average of $295.96. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $123.22 billion, a P/E ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates 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, 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Activity at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,951 shares of company stock worth $1,762,074. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

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

Automatic Data Processing Company 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.