Martingale Asset Management L P Sells 5,581 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Martingale Asset Management L P lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 5.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,166 shares of the business services provider's stock after selling 5,581 shares during the quarter. Martingale Asset Management L P's holdings in Automatic Data Processing were worth $26,980,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. AMG National Trust Bank raised its stake in Automatic Data Processing by 0.3% in the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock worth $3,318,000 after buying an additional 33 shares in the last quarter. Aspiriant LLC grew its holdings in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Riversedge Advisors LLC lifted its stake in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after purchasing an additional 37 shares during the period. Finally, Gilbert & Cook Inc. boosted its position in shares of Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the company'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 completion of the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing 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 transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 4,297 shares of company stock worth $1,307,772. 0.21% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have commented on ADP. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays raised 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 note on Monday, February 3rd. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Finally, Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $302.30.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded up $2.03 during trading on Monday, hitting $301.57. 517,726 shares of the company's stock traded hands, compared to its average volume of 1,668,378. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The business has a 50-day simple moving average of $302.38 and a 200-day simple moving average of $297.72. The stock has a market capitalization of $122.88 billion, a P/E ratio of 31.45, a PEG ratio of 3.62 and a beta of 0.74. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates 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 forecast that Automatic Data Processing, Inc. will post 9.93 EPS 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 issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is currently 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.