Delta Asset Management LLC TN Trims Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Delta Asset Management LLC TN decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,836 shares of the business services provider’s stock after selling 90 shares during the period. Delta Asset Management LLC TN’s holdings in Automatic Data Processing were worth $537,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC grew its holdings 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 worth $29,000 after acquiring an additional 149 shares during the period. Cyrus J. Lawrence LLC lifted its stake in shares of Automatic Data Processing by 121.8% in 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 period. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,951 shares of company stock valued at $1,762,074. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. 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 report on Thursday, January 30th. Barclays boosted 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. UBS Group lifted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. One equities 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $302.30.

Automatic Data Processing Stock Up 1.0 %

ADP stock opened at $302.41 on Thursday. The stock has a market capitalization of $123.22 billion, a P/E ratio of 31.53, a P/E/G ratio of 3.62 and a beta of 0.76. 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 business has a fifty day moving average price of $303.59 and a 200-day moving average price of $295.96.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates 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 analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced 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. This represents a $6.16 annualized dividend and a yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.