Overbrook Management Corp Sells 4,120 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Overbrook Management Corp lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 74.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,435 shares of the business services provider's stock after selling 4,120 shares during the quarter. Overbrook Management Corp's holdings in Automatic Data Processing were worth $420,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC lifted its holdings in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC boosted its position in Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider's stock valued at $32,000 after purchasing an additional 51 shares during the period. Capital Performance Advisors LLP acquired a new position in Automatic Data Processing during the 3rd quarter valued at about $35,000. Finally, Newbridge Financial Services Group Inc. boosted its position in shares of Automatic Data Processing by 43.2% during the second quarter. Newbridge Financial Services Group Inc. now owns 169 shares of the business services provider's stock worth $40,000 after buying an additional 51 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $0.05 during mid-day trading on Monday, reaching $296.18. The company's stock had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The firm's 50-day moving average is $297.90 and its two-hundred day moving average is $280.60. The company has a market cap of $120.68 billion, a P/E ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. Automatic Data Processing's dividend payout ratio (DPR) is presently 65.74%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a report on Wednesday, September 25th. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a report on Monday, November 4th. StockNews.com upgraded shares of Automatic Data Processing from a "hold" rating to a "buy" rating in a report on Sunday. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. Finally, UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $289.91.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the company's stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares of the company's stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was 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 owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by insiders.

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.