Conning Inc. Cuts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Conning Inc. decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,570 shares of the business services provider’s stock after selling 13,664 shares during the period. Automatic Data Processing makes up 1.3% of Conning Inc.’s portfolio, making the stock its 14th biggest position. Conning Inc.’s holdings in Automatic Data Processing were worth $36,758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also modified their holdings of the company. CWM LLC grew its stake in shares of Automatic Data Processing by 8.7% during the third quarter. CWM LLC now owns 19,941 shares of the business services provider’s stock valued at $5,518,000 after acquiring an additional 1,603 shares in the last quarter. Hexagon Capital Partners LLC grew its stake in 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 valued at $32,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital grew its stake in Automatic Data Processing by 6.6% during the 3rd quarter. Wedmont Private Capital now owns 3,747 shares of the business services provider’s stock valued at $1,057,000 after purchasing an additional 231 shares in the last quarter. Cypress Wealth Services LLC increased its holdings in Automatic Data Processing by 4.8% during the 3rd quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock worth $248,000 after purchasing an additional 41 shares during the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $204,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 1.0 %

NASDAQ:ADP opened at $305.97 on Friday. The firm has a market capitalization of $124.67 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average of $297.21 and a 200-day moving average of $285.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The company 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 $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADP shares. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. TD Cowen upped their target price 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. Mizuho lifted their price target 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. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last ninety days. Company insiders own 0.21% of the company’s stock.

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.