Tritonpoint Wealth LLC Sells 65 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tritonpoint Wealth LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,421 shares of the business services provider’s stock after selling 65 shares during the period. Tritonpoint Wealth LLC’s holdings in Automatic Data Processing were worth $1,972,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of ADP. Goldstone Financial Group LLC boosted its holdings in Automatic Data Processing by 43.6% during the 1st quarter. Goldstone Financial Group LLC now owns 1,272 shares of the business services provider’s stock worth $389,000 after acquiring an additional 386 shares during the last quarter. Elevation Point Wealth Partners LLC boosted its holdings in Automatic Data Processing by 2.0% during the 1st quarter. Elevation Point Wealth Partners LLC now owns 7,233 shares of the business services provider’s stock worth $2,210,000 after acquiring an additional 143 shares during the last quarter. Everhart Financial Group Inc. boosted its holdings in Automatic Data Processing by 6.3% during the 1st quarter. Everhart Financial Group Inc. now owns 3,225 shares of the business services provider’s stock worth $985,000 after acquiring an additional 190 shares during the last quarter. Seros Financial LLC purchased a new position in Automatic Data Processing during the 1st quarter worth $214,000. Finally, Relyea Zuckerberg Hanson LLC boosted its holdings in Automatic Data Processing by 0.8% during the 1st quarter. Relyea Zuckerberg Hanson LLC now owns 13,003 shares of the business services provider’s stock worth $3,973,000 after acquiring an additional 105 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $306.82 on Friday. The company has a market capitalization of $124.55 billion, a P/E ratio of 31.99, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $329.93. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company’s 50-day moving average is $308.06 and its 200 day moving average is $302.91.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion for 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%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 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 Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ADP. Stifel Nicolaus lifted their price objective on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. UBS Group cut their price objective on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating on the stock in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, June 5th. TD Securities boosted their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the stock a “hold” rating in a report on Wednesday, May 21st. Finally, Mizuho boosted their price target on shares of Automatic Data Processing from $321.00 to $332.00 and gave the stock an “outperform” rating in a report on Friday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $306.82.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 1,500 shares of the company’s 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.

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.