Brady Family Wealth LLC Cuts Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Brady Family Wealth LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,878 shares of the business services provider’s stock after selling 695 shares during the period. Automatic Data Processing makes up 1.6% of Brady Family Wealth LLC’s investment portfolio, making the stock its 21st largest holding. Brady Family Wealth LLC’s holdings in Automatic Data Processing were worth $5,233,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC acquired a new stake in Automatic Data Processing in the third quarter valued at $209,000. Nomura Asset Management Co. Ltd. boosted its position in shares of Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after buying an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $470,000. Dash Acquisitions Inc. increased its holdings in Automatic Data Processing by 5.6% during the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in Automatic Data Processing during the third quarter worth about $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $293.37 on Thursday. The business’s 50-day moving average price is $298.48 and its 200 day moving average price is $279.35. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a market capitalization of $119.54 billion, a PE ratio of 31.31, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The company’s revenue was up 7.1% on a year-over-year basis. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Insider Activity

In other news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 1,004 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last ninety days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays raised their price target on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. UBS Group upped their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Jefferies Financial Group lifted their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $289.91.

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.