TCV Trust & Wealth Management Inc. Reduces Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

TCV Trust & Wealth Management Inc. cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 61,387 shares of the business services provider’s stock after selling 1,642 shares during the quarter. Automatic Data Processing accounts for about 1.7% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 16th largest holding. TCV Trust & Wealth Management Inc.’s holdings in Automatic Data Processing were worth $17,970,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC lifted its stake in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the third quarter valued at $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays lifted their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. 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. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.55.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s 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 transaction, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % 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 David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $305.78 on Wednesday. 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 company has a 50-day moving average price of $297.21 and a 200 day moving average price of $287.34. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The stock has a market cap of $124.59 billion, a P/E ratio of 31.89, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.