Intech Investment Management LLC Sells 45,534 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Intech Investment Management LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 60.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 30,416 shares of the business services provider's stock after selling 45,534 shares during the quarter. Intech Investment Management LLC's holdings in Automatic Data Processing were worth $8,904,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the 3rd quarter worth about $26,000. Dunhill Financial LLC lifted its stake in 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 acquiring an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the company's stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction 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 completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is owned by corporate insiders.

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Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. 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. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and a consensus target price of $296.18.

Automatic Data Processing Stock Performance

ADP traded down $2.19 during midday trading on Friday, reaching $295.32. The company's stock had a trading volume of 3,951,110 shares, compared to its average volume of 1,459,985. The stock has a market cap of $120.33 billion, a P/E ratio of 30.79, a PEG ratio of 3.62 and a beta of 0.76. The company has a fifty day simple moving average of $303.08 and a 200 day simple moving average of $295.36. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

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, beating analysts' consensus estimates 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 expect 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, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's payout ratio is presently 64.23%.

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.