Northstar Asset Management Inc. Sells 2,105 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Northstar Asset Management Inc. decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 3.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 56,766 shares of the business services provider's stock after selling 2,105 shares during the quarter. Automatic Data Processing accounts for approximately 4.4% of Northstar Asset Management Inc.'s portfolio, making the stock its 6th largest position. Northstar Asset Management Inc.'s holdings in Automatic Data Processing were worth $16,617,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. lifted its holdings in Automatic Data Processing by 0.4% during the 4th quarter. D.A. Davidson & CO. now owns 260,243 shares of the business services provider's stock worth $76,181,000 after buying an additional 1,047 shares in the last quarter. CIBC Asset Management Inc boosted its holdings in Automatic Data Processing by 1.8% in the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider's stock valued at $45,647,000 after purchasing an additional 2,787 shares during the period. Pittenger & Anderson Inc. grew its stake in Automatic Data Processing by 0.4% during the 4th quarter. Pittenger & Anderson Inc. now owns 47,374 shares of the business services provider's stock worth $13,868,000 after purchasing an additional 185 shares in the last quarter. Sierra Ocean LLC purchased a new stake in Automatic Data Processing during the 4th quarter worth about $235,000. Finally, Monument Capital Management boosted its stake in shares of Automatic Data Processing by 9.8% in the 4th quarter. Monument Capital Management now owns 1,192 shares of the business services provider's stock valued at $349,000 after buying an additional 106 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ADP. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group lifted 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. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $293.55.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the business's stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company's stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 transaction of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Stock Performance

ADP traded down $1.21 during trading on Friday, hitting $310.76. 1,600,341 shares of the stock were exchanged, compared to its average volume of 1,606,313. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $313.72. The stock has a fifty day moving average price of $298.72 and a two-hundred day moving average price of $290.11. The firm has a market capitalization of $126.62 billion, a P/E ratio of 32.40, a PEG ratio of 3.65 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing's dividend payout ratio (DPR) is 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.