Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,837 shares of the business services provider’s stock after selling 725 shares during the quarter. Parsons Capital Management Inc. RI’s holdings in Automatic Data Processing were worth $6,100,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of ADP. Ascent Group LLC raised its holdings in shares of Automatic Data Processing by 11.3% during the second quarter. Ascent Group LLC now owns 14,870 shares of the business services provider’s stock valued at $3,549,000 after buying an additional 1,512 shares during the last quarter. Creative Planning raised its stake in Automatic Data Processing by 2.1% during the 2nd quarter. Creative Planning now owns 124,126 shares of the business services provider’s stock valued at $29,628,000 after acquiring an additional 2,566 shares in the last quarter. Silver Lake Advisory LLC boosted its position in Automatic Data Processing by 0.5% during the 2nd quarter. Silver Lake Advisory LLC now owns 17,926 shares of the business services provider’s stock worth $4,279,000 after acquiring an additional 89 shares during the period. NewEdge Advisors LLC grew its stake in shares of Automatic Data Processing by 7.9% in the second quarter. NewEdge Advisors LLC now owns 190,356 shares of the business services provider’s stock worth $45,436,000 after purchasing an additional 13,871 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Automatic Data Processing by 7.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 43,305 shares of the business services provider’s stock valued at $10,343,000 after purchasing an additional 3,151 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

NASDAQ ADP opened at $297.10 on Monday. The firm’s 50 day moving average price is $297.13 and its two-hundred day moving average price is $282.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The stock has a market cap of $121.06 billion, a price-to-earnings ratio of 31.71, a PEG ratio of 3.45 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s payout ratio is 65.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday, January 19th. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. TD Cowen raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada boosted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last quarter. Company insiders own 0.21% of the company’s stock.

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.