Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Avior Wealth Management LLC

Avior Wealth Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.9% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 12,167 shares of the business services provider’s stock after selling 2,306 shares during the period. Avior Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,562,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Beacon Investment Advisory Services Inc. increased its position in shares of Automatic Data Processing by 1.6% in the fourth quarter. Beacon Investment Advisory Services Inc. now owns 20,459 shares of the business services provider’s stock worth $5,989,000 after acquiring an additional 325 shares in the last quarter. Janney Montgomery Scott LLC raised its stake in Automatic Data Processing by 1.5% during the 4th quarter. Janney Montgomery Scott LLC now owns 193,065 shares of the business services provider’s stock valued at $56,516,000 after purchasing an additional 2,854 shares during the period. Bartlett & CO. Wealth Management LLC boosted its position in shares of Automatic Data Processing by 1.9% in the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 99,256 shares of the business services provider’s stock worth $29,208,000 after buying an additional 1,882 shares during the period. Albion Financial Group UT grew its holdings in shares of Automatic Data Processing by 42.7% during the fourth quarter. Albion Financial Group UT now owns 3,567 shares of the business services provider’s stock valued at $1,044,000 after buying an additional 1,067 shares in the last quarter. Finally, XML Financial LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $205,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.6 %

ADP opened at $296.36 on Thursday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $120.75 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 3.47 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The firm’s 50-day simple moving average is $297.27 and its 200-day simple moving average is $281.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Jefferies Financial Group lifted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Barclays lifted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $289.91.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $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. In the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

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.