Automatic Data Processing, Inc. (NASDAQ:ADP) Position Lessened by ICW Investment Advisors LLC

ICW Investment Advisors LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 4th quarter, Holdings Channel.com reports. The firm owned 12,843 shares of the business services provider’s stock after selling 186 shares during the quarter. Automatic Data Processing accounts for about 1.6% of ICW Investment Advisors LLC’s investment portfolio, making the stock its 12th biggest position. ICW Investment Advisors LLC’s holdings in Automatic Data Processing were worth $3,760,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Meridian Wealth Management LLC bought a new position in Automatic Data Processing during the third quarter valued at approximately $754,000. Cerity Partners LLC lifted its holdings in Automatic Data Processing by 11.4% during the 3rd quarter. Cerity Partners LLC now owns 184,177 shares of the business services provider’s stock worth $50,976,000 after buying an additional 18,793 shares in the last quarter. Kingsview Wealth Management LLC lifted its position in Automatic Data Processing by 3.6% during the 3rd quarter. Kingsview Wealth Management LLC now owns 28,865 shares of the business services provider’s stock valued at $7,988,000 after purchasing an additional 1,008 shares during the period. Lane & Associates LLC boosted its position in shares of Automatic Data Processing by 50.2% in the 3rd quarter. Lane & Associates LLC now owns 2,815 shares of the business services provider’s stock worth $779,000 after purchasing an additional 941 shares during the last quarter. Finally, WESPAC Advisors LLC acquired a new stake in Automatic Data Processing in the third quarter worth $201,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.7 %

Shares of NASDAQ:ADP opened at $295.32 on Monday. The business’s 50-day moving average is $303.08 and its 200-day moving average is $295.50. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a market capitalization of $120.33 billion, a price-to-earnings ratio of 30.79, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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 80.86% and a net margin of 19.76%. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Jefferies Financial Group increased their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Barclays raised their price objective 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. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two 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, the stock presently has an average rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Company 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.