Peachtree Investment Partners LLC Sells 204 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Peachtree Investment Partners LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the fourth quarter, Holdings Channel.com reports. The fund owned 14,025 shares of the business services provider’s stock after selling 204 shares during the period. Automatic Data Processing accounts for approximately 1.5% of Peachtree Investment Partners LLC’s portfolio, making the stock its 16th largest position. Peachtree Investment Partners LLC’s holdings in Automatic Data Processing were worth $4,106,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in the business. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC boosted its holdings 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 purchasing an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 1.7 %

NASDAQ:ADP opened at $281.22 on Tuesday. 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 1-year low of $231.27 and a 1-year high of $322.84. The company has a 50-day moving average of $304.03 and a 200 day moving average of $297.33. The firm has a market cap of $114.59 billion, a PE ratio of 29.32, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74.

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, topping 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%. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were given a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.19%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,364 shares of company stock valued at $1,613,094. Corporate insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

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

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.