Benchmark Financial Wealth Advisors LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Benchmark Financial Wealth Advisors LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 690 shares of the business services provider’s stock after selling 57 shares during the period. Benchmark Financial Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC lifted its position in Automatic Data Processing by 346.5% during the third 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 last quarter. Hexagon Capital Partners LLC grew its stake in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the 3rd quarter worth $35,000. Finally, Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now 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 disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 over the last quarter. 0.21% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday. Finally, Jefferies Financial Group boosted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $308.15 on Thursday. The company’s fifty day simple moving average is $297.15 and its two-hundred day simple moving average is $285.67. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The firm has a market cap of $125.56 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, equities analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

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 issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.