Intact Investment Management Inc. Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Intact Investment Management Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 98.3% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 600 shares of the business services provider's stock after selling 34,880 shares during the period. Intact Investment Management Inc.'s holdings in Automatic Data Processing were worth $176,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing during the third quarter valued at about $26,000. Dunhill Financial LLC raised its holdings in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing during the fourth quarter valued at about $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at about $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.4 %

NASDAQ ADP traded down $1.28 during trading hours on Thursday, hitting $297.51. 1,602,348 shares of the company were exchanged, compared to its average volume of 1,455,600. The stock has a 50-day moving average price of $302.80 and a 200 day moving average price of $295.07. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The stock has a market cap of $121.22 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Remove Ads

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued 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 return on equity of 80.86% and a net margin of 19.76%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ADP shares. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group lifted their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a report on Tuesday, March 4th. Finally, Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Two equities 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 stock. According to data from MarketBeat.com, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $296.18.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the business's 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 completion of the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction that occurred 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 transaction, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock worth $1,762,074 over the last 90 days. Company insiders own 0.21% of the company's stock.

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.