Wealthcare Advisory Partners LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthcare Advisory Partners LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,423 shares of the business services provider’s stock after selling 40 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Automatic Data Processing were worth $1,880,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Procyon Advisors LLC lifted its position in Automatic Data Processing by 0.8% during the fourth quarter. Procyon Advisors LLC now owns 21,106 shares of the business services provider’s stock valued at $6,178,000 after purchasing an additional 171 shares during the last quarter. Everpar Advisors LLC raised its position in shares of Automatic Data Processing by 3.4% during the 4th quarter. Everpar Advisors LLC now owns 1,969 shares of the business services provider’s stock valued at $576,000 after buying an additional 65 shares in the last quarter. Border to Coast Pensions Partnership Ltd lifted its holdings in shares of Automatic Data Processing by 30.6% in the 4th quarter. Border to Coast Pensions Partnership Ltd now owns 156,533 shares of the business services provider’s stock valued at $45,791,000 after acquiring an additional 36,685 shares during the last quarter. RDA Financial Network purchased a new position in Automatic Data Processing in the fourth quarter worth about $1,508,000. Finally, Goldstone Financial Group LLC increased its stake in Automatic Data Processing by 9.4% during the fourth quarter. Goldstone Financial Group LLC now owns 886 shares of the business services provider’s stock worth $259,000 after acquiring an additional 76 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on ADP shares. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Down 0.0 %

Shares of NASDAQ ADP opened at $296.18 on Friday. The stock has a 50 day moving average price of $297.90 and a 200 day moving average price of $279.99. 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. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results 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. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 EPS. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

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.