Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by ING Groep NV

ING Groep NV cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 18.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 150,495 shares of the business services provider's stock after selling 34,014 shares during the period. ING Groep NV's holdings in Automatic Data Processing were worth $44,054,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC increased its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after buying an additional 149 shares in the last quarter. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing in the third quarter worth about $35,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research note on Friday, November 1st. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Finally, Barclays lifted their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $293.55.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $1.21 during trading hours on Friday, hitting $310.76. 1,600,341 shares of the company's stock traded hands, compared to its average volume of 1,606,313. The company has a market capitalization of $126.62 billion, a PE ratio of 32.40, a PEG ratio of 3.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. The firm's 50-day moving average is $298.44 and its 200-day moving average is $289.74.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its earnings results 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%. Equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's payout ratio is currently 64.23%.

Insiders Place Their Bets

In related news, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $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 accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company's stock, valued at approximately $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 5,478 shares of company stock valued at $1,617,241 in the last three months. 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.