Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by WealthShield Partners LLC

WealthShield Partners LLC lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.1% in the fourth quarter, Holdings Channel reports. The institutional investor owned 858 shares of the business services provider’s stock after selling 118 shares during the period. WealthShield Partners LLC’s holdings in Automatic Data Processing were worth $252,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. State of Alaska Department of Revenue increased its position in Automatic Data Processing by 6.3% during the 3rd quarter. State of Alaska Department of Revenue now owns 47,375 shares of the business services provider’s stock worth $13,110,000 after purchasing an additional 2,810 shares during the period. J.W. Cole Advisors Inc. grew its holdings in Automatic Data Processing by 3.5% during the third quarter. J.W. Cole Advisors Inc. now owns 6,080 shares of the business services provider’s stock worth $1,682,000 after acquiring an additional 208 shares during the period. Salomon & Ludwin LLC raised its position in Automatic Data Processing by 23.4% in the third quarter. Salomon & Ludwin LLC now owns 264 shares of the business services provider’s stock worth $73,000 after acquiring an additional 50 shares in the last quarter. Baker Tilly Wealth Management LLC lifted its holdings in Automatic Data Processing by 19.7% in the third quarter. Baker Tilly Wealth Management LLC now owns 1,227 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 202 shares during the period. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors boosted its position in shares of Automatic Data Processing by 2.2% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 4,675 shares of the business services provider’s stock worth $1,294,000 after purchasing an additional 101 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now 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 have sold 5,478 shares of company stock worth $1,617,241 over the last quarter. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research analyst reports. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $312.20 on Tuesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $314.06. The business has a fifty day moving average of $299.03 and a 200-day moving average of $290.89. The stock has a market cap of $127.21 billion, a price-to-earnings ratio of 32.55, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.