Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,287 shares of the business services provider’s stock after selling 153 shares during the quarter. Private Advisor Group LLC’s holdings in Automatic Data Processing were worth $5,353,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Tower Wealth Partners Inc. increased its stake in Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after buying an additional 35 shares during the period. Harbour Investments Inc. increased its stake in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares during the period. Aspiriant LLC increased its stake in Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after buying an additional 36 shares during the period. Precedent Wealth Partners LLC increased its stake in Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after buying an additional 36 shares during the period. Finally, Riversedge Advisors LLC increased its stake in Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after buying an additional 37 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 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.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. TD Cowen upped their price objective 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. 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. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two investment 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $310.76 on Friday. 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 fifty day simple moving average of $298.72 and a 200 day simple moving average of $290.32. The company has a market cap of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 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 issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 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.