Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Lowered by Joel Isaacson & Co. LLC

Joel Isaacson & Co. LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,143 shares of the business services provider’s stock after selling 64 shares during the period. Joel Isaacson & Co. LLC’s holdings in Automatic Data Processing were worth $1,213,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Golden State Wealth Management LLC acquired a new position in shares of Automatic Data Processing during the fourth quarter valued at $128,000. Global X Japan Co. Ltd. lifted its position in Automatic Data Processing by 5.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 1,797 shares of the business services provider’s stock valued at $526,000 after purchasing an additional 90 shares during the last quarter. William Allan Corp boosted its stake in Automatic Data Processing by 1.2% during the 4th quarter. William Allan Corp now owns 21,368 shares of the business services provider’s stock valued at $6,255,000 after purchasing an additional 257 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in Automatic Data Processing by 4.1% during the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,637 shares of the business services provider’s stock valued at $15,701,000 after purchasing an additional 2,119 shares during the period. Finally, Strategic Financial Concepts LLC bought a new position in Automatic Data Processing in the 4th quarter worth about $26,723,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 in the last quarter. 0.21% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Down 1.0 %

NASDAQ ADP opened at $305.97 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company has a market capitalization of $124.67 billion, a P/E ratio of 31.91, a PEG ratio of 3.52 and a beta of 0.79. The company’s 50 day simple moving average is $297.21 and its 200 day simple moving average is $285.99. 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 (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 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 issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

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.