Curi RMB Capital LLC Sells 908 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Curi RMB Capital LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.8% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,761 shares of the business services provider's stock after selling 908 shares during the period. Curi RMB Capital LLC's holdings in Automatic Data Processing were worth $1,979,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Virtu Financial LLC lifted its position in shares of Automatic Data Processing by 202.7% in the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after acquiring an additional 3,261 shares in the last quarter. Tudor Financial Inc. purchased a new stake in shares of Automatic Data Processing in the third quarter valued at $310,000. Anchor Investment Management LLC boosted its position in shares of Automatic Data Processing by 7.0% in the third quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock worth $4,257,000 after buying an additional 1,001 shares during the period. Pine Valley Investments Ltd Liability Co grew its holdings in shares of Automatic Data Processing by 3.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock valued at $2,753,000 after buying an additional 337 shares in the last quarter. Finally, World Investment Advisors LLC lifted its stake in Automatic Data Processing by 22.6% in the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock worth $2,066,000 after acquiring an additional 1,378 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares of the company's stock, valued at $2,158,682.96. This represents a 6.10 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,775 shares of company stock valued at $1,447,893. Corporate insiders own 0.21% of the company's stock.

Automatic Data Processing Trading Down 0.9 %

Shares of ADP traded down $2.79 on Friday, reaching $291.76. 1,481,689 shares of the company's stock were exchanged, compared to its average volume of 1,682,037. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a market capitalization of $118.88 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. 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 business has a 50 day moving average price of $299.93 and a two-hundred day moving average price of $298.32.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly 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 return on equity of 80.86% and a net margin of 19.76%. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 64.23%.

Wall Street Analyst Weigh In

Several research firms have weighed in on ADP. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday. Jefferies Financial Group raised 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. Barclays raised 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 report on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Finally, UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $302.30.

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.