Wealthcare Advisory Partners LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthcare Advisory Partners LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The firm owned 6,423 shares of the business services provider’s stock after selling 40 shares during the period. Wealthcare Advisory Partners LLC’s holdings in Automatic Data Processing were worth $1,880,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the stock. Procyon Advisors LLC increased its stake in Automatic Data Processing by 0.8% during the 4th quarter. Procyon Advisors LLC now owns 21,106 shares of the business services provider’s stock valued at $6,178,000 after purchasing an additional 171 shares in the last quarter. Everpar Advisors LLC grew its holdings in shares of Automatic Data Processing by 3.4% during the fourth quarter. Everpar Advisors LLC now owns 1,969 shares of the business services provider’s stock valued at $576,000 after buying an additional 65 shares during the last quarter. Border to Coast Pensions Partnership Ltd grew its holdings in shares of Automatic Data Processing by 30.6% during the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 156,533 shares of the business services provider’s stock valued at $45,791,000 after buying an additional 36,685 shares during the last quarter. RDA Financial Network acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $1,508,000. Finally, Goldstone Financial Group LLC raised its stake in Automatic Data Processing by 9.4% in the 4th quarter. Goldstone Financial Group LLC now owns 886 shares of the business services provider’s stock worth $259,000 after acquiring an additional 76 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Citigroup lifted their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, Barclays boosted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

Shares of Automatic Data Processing stock opened at $296.18 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $120.68 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The firm has a 50-day simple moving average of $297.90 and a two-hundred day simple moving average of $279.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $2.08 earnings per share. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 65.74%.

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.