Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Renaissance Investment Group LLC

Renaissance Investment Group LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,000 shares of the business services provider’s stock after selling 151 shares during the period. Renaissance Investment Group LLC’s holdings in Automatic Data Processing were worth $1,756,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the third quarter worth approximately $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter valued at about $27,000. Dunhill Financial LLC lifted its stake in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Hexagon Capital Partners LLC boosted its position in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

NASDAQ ADP opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The stock has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The firm’s 50-day moving average is $297.90 and its two-hundred day moving average is $279.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the company posted $2.08 EPS. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Finally, Citigroup upped their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $289.91.

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.