Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by 49 Wealth Management LLC

49 Wealth Management LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,047 shares of the business services provider’s stock after selling 115 shares during the period. 49 Wealth Management LLC’s holdings in Automatic Data Processing were worth $306,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of ADP. Grassi Investment Management purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $227,000. Pure Financial Advisors LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $200,000. Sugar Maple Asset Management LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Aspiriant LLC lifted its position in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after buying an additional 36 shares during the last quarter. Finally, Transform Wealth LLC purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $581,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.1%

Shares of Automatic Data Processing stock opened at $322.63 on Thursday. The company has a market cap of $130.96 billion, a P/E ratio of 33.64, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $323.66. The firm has a fifty day moving average of $300.13 and a two-hundred day moving average of $300.69.

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

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 1.91%. Automatic Data Processing’s payout ratio is currently 63.05%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ADP. Barclays boosted 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. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group upped their price target 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. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, May 1st. Finally, Jefferies Financial Group upped their price target 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. 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 company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $305.64.

Insiders Place Their Bets

In other 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 transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is owned by insiders.

Automatic Data Processing 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.