Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Daymark Wealth Partners LLC

Daymark Wealth Partners LLC lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,115 shares of the business services provider’s stock after selling 197 shares during the period. Daymark Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,668,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ADP. 1832 Asset Management L.P. lifted its position in shares of Automatic Data Processing by 1.1% during the second quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after purchasing an additional 436 shares in the last quarter. Public Sector Pension Investment Board increased its stake in Automatic Data Processing by 71.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after buying an additional 6,439 shares during the period. Magnetar Financial LLC purchased a new position in Automatic Data Processing in the 2nd quarter valued at about $203,000. Evergreen Capital Management LLC grew its stake in shares of Automatic Data Processing by 2.8% during the second quarter. Evergreen Capital Management LLC now owns 6,683 shares of the business services provider’s stock valued at $1,604,000 after acquiring an additional 183 shares in the last quarter. Finally, Mill Creek Capital Advisors LLC increased its position in shares of Automatic Data Processing by 5.4% during the second quarter. Mill Creek Capital Advisors LLC now owns 1,673 shares of the business services provider’s stock worth $399,000 after acquiring an additional 85 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Insider Activity

In other news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction 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 $9,781,200. This represents a 54.45 % 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 Stock Down 0.6 %

Shares of Automatic Data Processing stock opened at $296.36 on Thursday. The stock has a market capitalization of $120.75 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The business’s 50 day simple moving average is $297.49 and its 200-day simple moving average is $281.46.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating 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 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 previous year, the company posted $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is currently 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.