Whittier Trust Co. trimmed its stake in Automatic Data Processing (NASDAQ:ADP) by 20.5% during the fourth quarter, HoldingsChannel reports. The fund owned 47,596 shares of the business services provider’s stock after selling 12,293 shares during the quarter. Whittier Trust Co.’s holdings in Automatic Data Processing were worth $5,578,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Acrospire Investment Management LLC bought a new position in Automatic Data Processing in the 2nd quarter worth approximately $102,000. Legacy Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter worth approximately $103,000. Wealthcare Advisory Partners LLC bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $114,000. Calton & Associates Inc. bought a new position in Automatic Data Processing in the 4th quarter worth approximately $118,000. Finally, Cerebellum GP LLC bought a new position in Automatic Data Processing in the 4th quarter worth approximately $129,000. 78.55% of the stock is currently owned by institutional investors and hedge funds.

Shares of Automatic Data Processing (NASDAQ ADP) opened at $111.65 on Tuesday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The company has a market capitalization of $49,490.00, a price-to-earnings ratio of 28.92, a P/E/G ratio of 2.43 and a beta of 0.86. Automatic Data Processing has a one year low of $95.50 and a one year high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $0.99 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.89 by $0.10. The business had revenue of $3.24 billion for the quarter, compared to analyst estimates of $3.18 billion. Automatic Data Processing had a return on equity of 43.28% and a net margin of 13.47%. Automatic Data Processing’s quarterly revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 EPS. equities analysts forecast that Automatic Data Processing will post 4.17 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be paid a $0.63 dividend. This represents a $2.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio is 65.28%.

ADP has been the topic of several recent analyst reports. Zacks Investment Research raised Automatic Data Processing from a “hold” rating to a “buy” rating and set a $128.00 price target on the stock in a research report on Monday, October 16th. BidaskClub raised Automatic Data Processing from a “buy” rating to a “strong-buy” rating in a report on Saturday, October 21st. Barclays lifted their price objective on Automatic Data Processing from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Thursday, October 26th. Sanford C. Bernstein lifted their price objective on Automatic Data Processing from $115.00 to $125.00 and gave the stock an “outperform” rating in a report on Tuesday, October 31st. Finally, BMO Capital Markets decreased their price objective on Automatic Data Processing from $122.00 to $114.00 and set an “outperform” rating on the stock in a report on Friday, November 3rd. Eleven analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $118.43.

In other Automatic Data Processing news, CEO Carlos A. Rodriguez sold 95,756 shares of the business’s stock in a transaction on Thursday, January 4th. The stock was sold at an average price of $118.09, for a total value of $11,307,826.04. Following the transaction, the chief executive officer now owns 124,722 shares of the company’s stock, valued at $14,728,420.98. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael A. Bonarti sold 3,900 shares of the business’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $116.03, for a total value of $452,517.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 149,767 shares of company stock worth $17,801,722. 0.25% of the stock is owned by insiders.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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