HBW Advisory Services LLC Reduces Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

HBW Advisory Services LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% in the first quarter, Holdings Channel.com reports. The institutional investor owned 10,416 shares of the business services provider’s stock after selling 636 shares during the period. HBW Advisory Services LLC’s holdings in Automatic Data Processing were worth $3,182,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of ADP. Brighton Jones LLC raised its stake in Automatic Data Processing by 92.1% during the 4th quarter. Brighton Jones LLC now owns 10,026 shares of the business services provider’s stock valued at $2,935,000 after buying an additional 4,808 shares during the last quarter. Chicago Partners Investment Group LLC boosted its stake in shares of Automatic Data Processing by 3.3% in the 4th quarter. Chicago Partners Investment Group LLC now owns 3,587 shares of the business services provider’s stock worth $1,047,000 after buying an additional 116 shares during the last quarter. SYM FINANCIAL Corp grew its holdings in shares of Automatic Data Processing by 10.1% in the fourth quarter. SYM FINANCIAL Corp now owns 820 shares of the business services provider’s stock worth $240,000 after acquiring an additional 75 shares during the period. U.S. Capital Wealth Advisors LLC increased its position in Automatic Data Processing by 29.8% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 5,435 shares of the business services provider’s stock valued at $1,591,000 after acquiring an additional 1,249 shares during the last quarter. Finally, Round Rock Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at about $225,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Wall Street Zen downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Securities boosted their target price on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, May 1st. UBS Group lifted 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 note on Tuesday, March 4th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $305.64.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $325.80 on Tuesday. The stock has a market cap of $132.25 billion, a PE ratio of 33.97, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $327.99. The firm has a fifty day moving average price of $304.21 and a 200-day moving average price of $301.89. 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 issued 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. 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% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.88 EPS. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.89%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction 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. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by company insiders.

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.