SVB Wealth LLC Sells 9,774 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

SVB Wealth LLC lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.2% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 46,994 shares of the business services provider’s stock after selling 9,774 shares during the period. SVB Wealth LLC’s holdings in Automatic Data Processing were worth $10,948,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. OFI Invest Asset Management acquired a new stake in Automatic Data Processing during the third quarter worth approximately $25,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing during the second quarter worth approximately $30,000. Coppell Advisory Solutions Corp. acquired a new stake in Automatic Data Processing during the fourth quarter worth approximately $33,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing during the first quarter worth approximately $31,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $34,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock valued at $3,741,859 over the last 90 days. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $0.13 during midday trading on Tuesday, reaching $244.21. 296,968 shares of the company were exchanged, compared to its average volume of 1,817,397. The stock’s 50-day moving average price is $247.82 and its 200-day moving average price is $239.13. The stock has a market cap of $100.32 billion, a P/E ratio of 28.41, a PEG ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The company’s revenue was up 6.3% on a year-over-year basis. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio is 65.19%.

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.