Visionary Wealth Advisors Sells 99 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Visionary Wealth Advisors reduced its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% in the fourth quarter, Holdings Channel.com reports. The fund owned 27,559 shares of the business services provider’s stock after selling 99 shares during the quarter. Visionary Wealth Advisors’ holdings in Automatic Data Processing were worth $8,067,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Littlejohn Financial Services Inc. bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $708,000. Beaumont Financial Advisors LLC raised its position in shares of Automatic Data Processing by 46.8% in the 4th quarter. Beaumont Financial Advisors LLC now owns 3,239 shares of the business services provider’s stock worth $948,000 after acquiring an additional 1,032 shares in the last quarter. Perigon Wealth Management LLC raised its holdings in Automatic Data Processing by 33.3% in the fourth quarter. Perigon Wealth Management LLC now owns 30,926 shares of the business services provider’s stock worth $9,161,000 after purchasing an additional 7,734 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Automatic Data Processing by 1.8% during the fourth quarter. CIBC Asset Management Inc now owns 155,934 shares of the business services provider’s stock valued at $45,647,000 after buying an additional 2,787 shares during the last quarter. Finally, OLD National Bancorp IN boosted its holdings in shares of Automatic Data Processing by 7.8% in the 4th quarter. OLD National Bancorp IN now owns 13,677 shares of the business services provider’s stock valued at $4,004,000 after buying an additional 985 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This represents a 11.05% 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 Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares of the company’s stock, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 in the last 90 days. Insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on ADP shares. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Barclays upped their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Securities lifted their target price on shares of Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a research note on Thursday, May 1st. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $303.55.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $319.37 on Monday. The stock has a market capitalization of $129.64 billion, a price-to-earnings ratio of 33.30, a PEG ratio of 3.62 and a beta of 0.76. The stock has a 50-day moving average of $298.29 and a 200 day moving average of $300.13. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion during the quarter, compared to the consensus estimate of $5.49 billion. During the same period in the prior year, the company posted $2.88 EPS. The business’s quarterly revenue was up 5.7% on a year-over-year basis. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 1.93%. Automatic Data Processing’s dividend payout ratio (DPR) is 63.05%.

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.