Wrapmanager Inc. Sells 82 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wrapmanager Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,514 shares of the business services provider’s stock after selling 82 shares during the quarter. Wrapmanager Inc.’s holdings in Automatic Data Processing were worth $353,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. International Assets Investment Management LLC raised its holdings in shares of Automatic Data Processing by 22,539.4% in the 4th quarter. International Assets Investment Management LLC now owns 934,326 shares of the business services provider’s stock valued at $217,670,000 after purchasing an additional 930,199 shares in the last quarter. Invesco Ltd. lifted its holdings in Automatic Data Processing by 40.7% during the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after buying an additional 905,043 shares during the period. Envestnet Asset Management Inc. boosted its position in Automatic Data Processing by 65.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 1,402,511 shares of the business services provider’s stock valued at $337,416,000 after acquiring an additional 555,184 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in shares of Automatic Data Processing by 18.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,576,575 shares of the business services provider’s stock valued at $855,287,000 after acquiring an additional 553,946 shares during the period. Finally, J.P. Morgan Private Wealth Advisors LLC purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at $107,401,000. 80.03% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,966 shares of company stock worth $749,524. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Finally, JPMorgan Chase & Co. reduced their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Two equities research 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. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $255.42.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded up $2.21 during trading hours on Thursday, hitting $245.15. 1,020,238 shares of the stock traded hands, compared to its average volume of 1,765,245. Automatic Data Processing, Inc. has a 1 year low of $205.53 and a 1 year high of $256.84. The stock has a market capitalization of $100.34 billion, a price-to-earnings ratio of 27.36, a P/E/G ratio of 2.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50 day moving average price is $245.12 and its 200-day moving average price is $238.97.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the company earned $2.52 earnings per share. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 62.50%.

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.