Tyche Wealth Partners LLC Sells 3,643 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tyche Wealth Partners LLC lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 60.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,381 shares of the business services provider’s stock after selling 3,643 shares during the period. Tyche Wealth Partners LLC’s holdings in Automatic Data Processing were worth $727,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in ADP. Main Street Group LTD raised its position in shares of Automatic Data Processing by 50.7% in the fourth quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after buying an additional 38 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares in the last quarter. Abound Wealth Management raised its position in shares of Automatic Data Processing by 58.1% in the first quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock valued at $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on ADP. Royal Bank Of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group lowered their price target on shares of Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a report on Friday, June 13th. TD Securities upped 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. Stifel Nicolaus upped their price target on shares of Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a report on Friday, May 2nd. Finally, Morgan Stanley upped their price target on shares of Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 17th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $307.08.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $311.40 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $329.93. The company’s 50 day moving average price is $310.05 and its two-hundred day moving average price is $303.05. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.51. The stock has a market cap of $126.40 billion, a P/E ratio of 31.87, a P/E/G ratio of 3.22 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.79% and a return on equity of 77.33%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 EPS. The company’s quarterly revenue was up 5.7% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be issued a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 478 shares of Automatic Data Processing 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 transaction, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at $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. 0.21% of the stock is currently 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.