Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Litman Gregory Wealth Management LLC

Litman Gregory Wealth Management LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,932 shares of the business services provider’s stock after selling 400 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,151,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in ADP. Moloney Securities Asset Management LLC purchased a new position in Automatic Data Processing in the third quarter valued at about $209,000. Nomura Asset Management Co. Ltd. raised its holdings in shares of Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at $470,000. Dash Acquisitions Inc. lifted its stake in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares during the last quarter. Finally, DRW Securities LLC bought a new stake in Automatic Data Processing in the third quarter worth $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other 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 transaction of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred 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 in the company, 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. Insiders sold 42,129 shares of company stock valued at $12,604,872 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

Automatic Data Processing stock opened at $303.01 on Friday. The business has a 50 day moving average price of $297.16 and a two-hundred day moving average price of $284.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. 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 $123.46 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 81.85% and a net margin of 19.76%. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing’s payout ratio is currently 64.23%.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent research reports. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average price target of $291.27.

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.