1900 Wealth Management LLC Trims Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

1900 Wealth Management LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,500 shares of the business services provider’s stock after selling 279 shares during the period. 1900 Wealth Management LLC’s holdings in Automatic Data Processing were worth $349,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new position in Automatic Data Processing during the third quarter worth about $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $35,000. Raleigh Capital Management Inc. boosted its position in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Carmel Capital Partners LLC raised its stake in Automatic Data Processing by 43.4% during the third quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after purchasing an additional 69 shares during the period. Finally, VisionPoint Advisory Group LLC raised its stake in Automatic Data Processing by 323.2% during the third quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after purchasing an additional 181 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Automatic Data Processing 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 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The disclosure for this sale can be found here. Over the last three months, insiders have sold 15,162 shares of company stock valued at $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Automatic Data Processing stock traded up $0.74 during trading on Tuesday, reaching $247.05. The company had a trading volume of 364,325 shares, compared to its average volume of 1,791,688. The firm has a market capitalization of $101.49 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.29 and a beta of 0.78. 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 12-month low of $201.46 and a 12-month high of $256.84. The stock’s 50 day moving average price is $247.15 and its two-hundred day moving average price is $239.21.

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

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. Automatic Data Processing’s payout ratio is currently 65.19%.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho upped their target price 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. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Finally, Evercore ISI increased their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $254.58.

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.