Tower Wealth Partners Inc. Has $245,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tower Wealth Partners Inc. decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.7% during the fourth quarter, HoldingsChannel.com reports. The fund owned 836 shares of the business services provider’s stock after selling 218 shares during the period. Tower Wealth Partners Inc.’s holdings in Automatic Data Processing were worth $245,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Daiwa Securities Group Inc. raised its position in shares of Automatic Data Processing by 6.0% in the fourth quarter. Daiwa Securities Group Inc. now owns 87,701 shares of the business services provider’s stock valued at $25,673,000 after purchasing an additional 4,965 shares during the period. Main Street Research LLC grew its stake in Automatic Data Processing by 8.0% in the 4th quarter. Main Street Research LLC now owns 3,427 shares of the business services provider’s stock valued at $1,008,000 after buying an additional 255 shares during the last quarter. Sound View Wealth Advisors Group LLC raised its holdings in Automatic Data Processing by 5.5% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 10,664 shares of the business services provider’s stock worth $3,122,000 after acquiring an additional 552 shares during the period. Enterprise Financial Services Corp lifted its position in Automatic Data Processing by 3.7% during the 4th quarter. Enterprise Financial Services Corp now owns 4,533 shares of the business services provider’s stock worth $1,327,000 after acquiring an additional 162 shares during the last quarter. Finally, Argentarii LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at about $536,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, 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 transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now owns 3,063 shares in the company, valued at approximately $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 a total of 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $306.45 on Monday. The stock’s fifty day simple moving average is $302.08 and its 200 day simple moving average is $293.93. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm has a market cap of $124.87 billion, a price-to-earnings ratio of 31.96, 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 posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the company 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.