Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by PDS Planning Inc

PDS Planning Inc lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,445 shares of the business services provider’s stock after selling 78 shares during the quarter. PDS Planning Inc’s holdings in Automatic Data Processing were worth $803,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. RWA Wealth Partners LLC raised its stake in Automatic Data Processing by 1,353.1% during the fourth quarter. RWA Wealth Partners LLC now owns 42,678 shares of the business services provider’s stock worth $9,943,000 after acquiring an additional 39,741 shares during the period. Sage Mountain Advisors LLC raised its stake in Automatic Data Processing by 9.1% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,034 shares of the business services provider’s stock worth $474,000 after acquiring an additional 169 shares during the period. Duality Advisers LP acquired a new stake in Automatic Data Processing during the fourth quarter worth about $1,513,000. MCF Advisors LLC increased its stake in shares of Automatic Data Processing by 6.6% in the fourth quarter. MCF Advisors LLC now owns 2,781 shares of the business services provider’s stock valued at $652,000 after purchasing an additional 173 shares during the period. Finally, Capital Investment Advisory Services LLC increased its stake in shares of Automatic Data Processing by 23.8% in the fourth quarter. Capital Investment Advisory Services LLC now owns 1,847 shares of the business services provider’s stock valued at $430,000 after purchasing an additional 355 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. In the last three months, insiders have sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

ADP has been the subject of several recent analyst reports. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Stock Up 1.2 %

Shares of Automatic Data Processing stock traded up $3.00 during midday trading on Monday, reaching $246.31. 1,328,983 shares of the company’s stock traded hands, compared to its average volume of 1,810,447. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company’s 50 day simple moving average is $247.22 and its 200 day simple moving average is $239.19. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52 week low of $201.46 and a 52 week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the business posted $1.96 EPS. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced 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 of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s payout ratio is presently 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.