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

SVB Wealth LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,994 shares of the business services provider’s stock after selling 9,774 shares during the quarter. SVB Wealth LLC’s holdings in Automatic Data Processing were worth $10,948,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ADP. Hamilton Point Investment Advisors LLC increased its position in shares of Automatic Data Processing by 1.3% during the 4th quarter. Hamilton Point Investment Advisors LLC now owns 43,553 shares of the business services provider’s stock worth $10,206,000 after purchasing an additional 560 shares during the last quarter. Donaldson Capital Management LLC increased its position in shares of Automatic Data Processing by 0.3% during the 4th quarter. Donaldson Capital Management LLC now owns 46,753 shares of the business services provider’s stock worth $10,892,000 after purchasing an additional 117 shares during the last quarter. Flputnam Investment Management Co. increased its position in shares of Automatic Data Processing by 0.8% during the 4th quarter. Flputnam Investment Management Co. now owns 43,290 shares of the business services provider’s stock worth $10,085,000 after purchasing an additional 330 shares during the last quarter. Legacy CG LLC increased its position in shares of Automatic Data Processing by 15.5% during the 4th quarter. Legacy CG LLC now owns 16,311 shares of the business services provider’s stock worth $3,800,000 after purchasing an additional 2,194 shares during the last quarter. Finally, Keel Point LLC increased its position in shares of Automatic Data Processing by 10.0% during the 4th quarter. Keel Point LLC now owns 1,562 shares of the business services provider’s stock worth $364,000 after purchasing an additional 142 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

Automatic Data Processing Stock Up 0.1 %

Shares of ADP traded up $0.13 during midday trading on Tuesday, hitting $244.21. The company had a trading volume of 296,968 shares, compared to its average volume of 1,817,397. The company’s 50-day simple moving average is $247.82 and its 200-day simple moving average is $239.13. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $100.32 billion, a P/E ratio of 28.41, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year 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 for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.96 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm 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 dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.29%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last 90 days. 0.26% of the stock is owned by insiders.

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.