Resonant Capital Advisors LLC Sells 1,124 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Resonant Capital Advisors LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,990 shares of the business services provider’s stock after selling 1,124 shares during the quarter. Resonant Capital Advisors LLC’s holdings in Automatic Data Processing were worth $3,042,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Financial Management Professionals Inc. boosted its holdings in Automatic Data Processing by 34.7% in the 3rd quarter. Financial Management Professionals Inc. now owns 159 shares of the business services provider’s stock worth $38,000 after buying an additional 41 shares during the period. Argus Investors Counsel Inc. increased its holdings in Automatic Data Processing by 0.5% during the 4th quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock worth $2,065,000 after acquiring an additional 43 shares during the period. Signet Financial Management LLC lifted its stake in Automatic Data Processing by 1.3% in the 4th quarter. Signet Financial Management LLC now owns 3,587 shares of the business services provider’s stock worth $857,000 after purchasing an additional 45 shares in the last quarter. Trust Co. of Toledo NA OH boosted its holdings in Automatic Data Processing by 0.5% in the 3rd quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after purchasing an additional 45 shares during the period. Finally, PFS Investments Inc. grew its position in shares of Automatic Data Processing by 3.4% during the 4th quarter. PFS Investments Inc. now owns 1,396 shares of the business services provider’s stock valued at $333,000 after purchasing an additional 46 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 in the last three months. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. Evercore ISI increased their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Mizuho lifted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Stock Up 0.5 %

ADP traded up $1.26 during trading on Friday, reaching $243.25. The stock had a trading volume of 715,103 shares, compared to its average volume of 1,803,725. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The stock’s 50 day moving average is $247.36 and its two-hundred day moving average is $239.20. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $99.92 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 2.28 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

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.