Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Financial Advisors LLC

Financial Advisors LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,040 shares of the business services provider’s stock after selling 125 shares during the period. Financial Advisors LLC’s holdings in Automatic Data Processing were worth $597,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Kiely Wealth Advisory Group Inc. purchased a new position in Automatic Data Processing in the second quarter valued at $27,000. Dunhill Financial LLC raised its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ADP shares. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Mizuho upped 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. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $289.91.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 42,129 shares of company stock valued at $12,604,872. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $296.18 on Friday. The company has a fifty day simple moving average of $297.90 and a 200-day simple moving average of $279.99. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the firm earned $2.08 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. Automatic Data Processing’s payout ratio is 65.74%.

About Automatic Data Processing

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.