NewSquare Capital LLC Sells 2,250 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NewSquare Capital LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 93.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 146 shares of the business services provider’s stock after selling 2,250 shares during the quarter. NewSquare Capital LLC’s holdings in Automatic Data Processing were worth $34,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. Exchange Traded Concepts LLC increased its position in shares of Automatic Data Processing by 10,832.1% during the third quarter. Exchange Traded Concepts LLC now owns 3,061 shares of the business services provider’s stock valued at $736,000 after buying an additional 3,033 shares during the period. Strategic Blueprint LLC lifted its stake in Automatic Data Processing by 18.0% in the 3rd quarter. Strategic Blueprint LLC now owns 3,835 shares of the business services provider’s stock worth $923,000 after purchasing an additional 584 shares in the last quarter. Caprock Group LLC boosted its holdings in Automatic Data Processing by 1.0% in the 3rd quarter. Caprock Group LLC now owns 6,779 shares of the business services provider’s stock valued at $1,639,000 after purchasing an additional 68 shares during the period. Capital Asset Advisory Services LLC grew its position in shares of Automatic Data Processing by 3.6% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,038 shares of the business services provider’s stock valued at $508,000 after purchasing an additional 71 shares in the last quarter. Finally, CX Institutional increased its holdings in shares of Automatic Data Processing by 283.6% in the third quarter. CX Institutional now owns 17,892 shares of the business services provider’s stock worth $4,304,000 after purchasing an additional 13,228 shares during the period. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.1 %

Shares of ADP opened at $246.61 on Thursday. The stock has a market capitalization of $101.30 billion, a P/E ratio of 28.71, a PEG ratio of 2.32 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a fifty day simple moving average of $247.01 and a two-hundred day simple moving average of $239.26.

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 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 company had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the business posted $1.96 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business 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 $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is 65.19%.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America raised shares of 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 research note on Wednesday, January 17th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Mizuho raised their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $254.58.

Insider Activity

In related news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The disclosure for this sale can be found here. In the last 90 days, 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 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.