Daymark Wealth Partners LLC Has $2.67 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Daymark Wealth Partners LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,115 shares of the business services provider’s stock after selling 197 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,668,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Moloney Securities Asset Management LLC purchased a new position in Automatic Data Processing during the 3rd quarter valued at about $209,000. Nomura Asset Management Co. Ltd. grew its position in Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new position in Automatic Data Processing in the 3rd quarter valued at approximately $470,000. Dash Acquisitions Inc. lifted its position in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after buying an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Automatic Data Processing during the 3rd quarter valued at $951,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.6 %

Shares of NASDAQ ADP opened at $296.36 on Thursday. The business has a fifty day moving average of $297.49 and a two-hundred day moving average of $281.46. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The stock has a market cap of $120.75 billion, a PE ratio of 31.63, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue was up 7.1% on a year-over-year basis. During the same period last year, the firm posted $2.08 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. 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 dividend payout ratio is 65.74%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ADP shares. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Citigroup boosted their price target on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Finally, Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 over the last 90 days. 0.21% of the stock is owned by company insiders.

About Automatic Data Processing

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.