Signet Financial Management LLC Sells 253 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Signet Financial Management LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 2,644 shares of the business services provider’s stock after selling 253 shares during the quarter. Signet Financial Management LLC’s holdings in Automatic Data Processing were worth $808,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Main Street Group LTD lifted its position in shares of Automatic Data Processing by 50.7% during the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock worth $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC lifted its position in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after buying an additional 67 shares in the last quarter. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Banque de Luxembourg S.A. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the sale, the vice president now directly owns 12,073 shares of the company’s stock, valued at $3,686,852.74. This represents a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 1.3%

Automatic Data Processing stock opened at $314.52 on Wednesday. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93. The firm has a market capitalization of $127.67 billion, a price-to-earnings ratio of 32.80, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a 50 day simple moving average of $306.37 and a 200 day simple moving average of $302.82.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. During the same period in the previous year, the business earned $2.88 EPS. Automatic Data Processing’s revenue was up 5.7% compared to the same quarter last year. On average, analysts predict 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 declared a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.96%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised their price target on shares of 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 restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, June 5th. TD Securities raised their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a research note on Wednesday, May 21st. Finally, Stifel Nicolaus raised their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $305.64.

Automatic Data Processing Company 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.