Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Cary Street Partners Investment Advisory LLC

Cary Street Partners Investment Advisory LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 65.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,546 shares of the business services provider’s stock after selling 4,844 shares during the period. Cary Street Partners Investment Advisory LLC’s holdings in Automatic Data Processing were worth $628,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of ADP. Brookstone Capital Management grew its holdings in shares of Automatic Data Processing by 96.3% in the 3rd quarter. Brookstone Capital Management now owns 14,186 shares of the business services provider’s stock worth $3,491,000 after acquiring an additional 6,958 shares during the period. Compagnie Lombard Odier SCmA purchased a new position in Automatic Data Processing during the third quarter worth $98,000. Vicus Capital purchased a new position in Automatic Data Processing during the third quarter worth $244,000. Cambridge Investment Research Advisors Inc. increased its position in Automatic Data Processing by 3.3% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 44,305 shares of the business services provider’s stock worth $10,659,000 after buying an additional 1,399 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC purchased a new position in Automatic Data Processing during the third quarter worth $700,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.8 %

Shares of ADP stock opened at $241.89 on Wednesday. The firm has a market cap of $99.37 billion, a P/E ratio of 28.16, a PEG ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50-day simple moving average is $246.29 and its 200-day simple moving average is $239.06.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company’s revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.96 EPS. As a group, equities analysts forecast 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 given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on 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 sale, the vice president now owns 17,179 shares of the company’s stock, valued at $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred 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 directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. In the last quarter, insiders sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on ADP shares. 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $258.36.

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.