Bogart Wealth LLC Sells 255 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Bogart Wealth LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 26,822 shares of the business services provider’s stock after selling 255 shares during the quarter. Bogart Wealth LLC’s holdings in Automatic Data Processing were worth $7,852,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently bought and sold shares of ADP. Tower Wealth Partners Inc. grew its position in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after purchasing an additional 35 shares in the last quarter. Harbour Investments Inc. lifted its holdings in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the last quarter. Aspiriant LLC boosted its holdings in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares during the last quarter. Finally, Riversedge Advisors LLC increased its position in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price target 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. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $310.22 on Friday. 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 fifty day moving average is $297.32 and its two-hundred day moving average is $287.85. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The firm has a market capitalization of $126.40 billion, a P/E ratio of 32.35, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Insider Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 over the last 90 days. 0.21% of the stock is currently owned by corporate 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.