AlphaQuest LLC Has $97,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

AlphaQuest LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 91.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 332 shares of the business services provider's stock after selling 3,379 shares during the period. AlphaQuest LLC's holdings in Automatic Data Processing were worth $97,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC boosted 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 worth $29,000 after acquiring an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.7 %

Shares of ADP stock traded down $2.19 during trading hours on Friday, hitting $295.32. 3,951,110 shares of the company's stock traded hands, compared to its average volume of 1,460,596. The stock's 50 day simple moving average is $303.08 and its 200 day simple moving average is $295.22. The stock has a market cap of $120.33 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month 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.

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Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS 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. 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 2.09%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analyst Weigh In

Several brokerages recently commented on ADP. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. UBS Group increased their price objective 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. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. Based on data from MarketBeat.com, Automatic Data Processing has a consensus rating of "Hold" and a consensus price target of $296.18.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company's stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 over the last three months. 0.21% of the stock is owned by company insiders.

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.