Aster Capital Management DIFC Ltd Sells 1,091 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Aster Capital Management DIFC Ltd cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 35.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,992 shares of the business services provider's stock after selling 1,091 shares during the quarter. Aster Capital Management DIFC Ltd's holdings in Automatic Data Processing were worth $583,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Littlejohn Financial Services Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. grew its stake in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider's stock worth $77,750,000 after acquiring an additional 15,340 shares during the last quarter. Bath Savings Trust Co increased its holdings in shares of Automatic Data Processing by 2.0% during the fourth quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider's stock valued at $29,068,000 after acquiring an additional 1,951 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider's stock worth $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider's stock worth $194,117,000 after purchasing an additional 51,828 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

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Automatic Data Processing Stock Performance

ADP stock traded up $7.33 during midday trading on Friday, reaching $299.54. 2,187,994 shares of the company's stock traded hands, compared to its average volume of 1,671,064. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $122.05 billion, a P/E ratio of 31.23, a PEG ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock's 50-day moving average is $302.38 and its 200 day moving average is $297.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. As a group, 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.06%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio is currently 64.23%.

Analysts Set New Price Targets

A number of analysts have weighed in on ADP shares. Royal Bank of Canada restated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $302.30.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now directly owns 12,073 shares of the company's stock, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,364 shares of company stock worth $1,613,094. Corporate insiders own 0.21% of the company's stock.

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.