Simon Quick Advisors LLC Sells 164 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Simon Quick Advisors LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,822 shares of the business services provider’s stock after selling 164 shares during the period. Simon Quick Advisors LLC’s holdings in Automatic Data Processing were worth $1,412,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. AE Wealth Management LLC increased its position in Automatic Data Processing by 28.5% in the second quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock worth $2,258,000 after purchasing an additional 2,096 shares during the last quarter. Thrivent Financial for Lutherans grew its stake in shares of Automatic Data Processing by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock worth $28,826,000 after buying an additional 4,427 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in shares of Automatic Data Processing by 1.1% in the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after buying an additional 436 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Automatic Data Processing by 12.1% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock valued at $516,000 after buying an additional 212 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its holdings in shares of Automatic Data Processing by 71.0% in the 2nd quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock valued at $3,703,000 after acquiring an additional 6,439 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Maria Black sold 721 shares of the company’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 over the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two 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. The company has a 50 day moving average price of $297.69 and a 200-day moving average price of $281.01. The company has a market capitalization of $121.48 billion, a PE ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm’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 firm earned $2.08 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on ADP shares. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target 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.