Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Trimmed by Regent Peak Wealth Advisors LLC

Regent Peak Wealth Advisors LLC decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 62.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,654 shares of the business services provider’s stock after selling 6,174 shares during the quarter. Regent Peak Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,070,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the business. Diversified Trust Co raised its holdings in Automatic Data Processing by 0.7% during the fourth quarter. Diversified Trust Co now owns 12,644 shares of the business services provider’s stock worth $3,701,000 after purchasing an additional 93 shares in the last quarter. Insight Wealth Strategies LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $4,683,000. Pensionfund Sabic lifted its holdings in shares of Automatic Data Processing by 29.5% in the fourth quarter. Pensionfund Sabic now owns 7,900 shares of the business services provider’s stock valued at $2,313,000 after buying an additional 1,800 shares during the period. GAMMA Investing LLC boosted its stake in Automatic Data Processing by 12.5% during the fourth quarter. GAMMA Investing LLC now owns 8,347 shares of the business services provider’s stock valued at $2,443,000 after buying an additional 929 shares in the last quarter. Finally, Versant Capital Management Inc grew its holdings in Automatic Data Processing by 39.5% during the fourth quarter. Versant Capital Management Inc now owns 1,495 shares of the business services provider’s stock worth $438,000 after acquiring an additional 423 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Barclays lifted their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.6 %

NASDAQ:ADP traded up $1.69 during trading hours on Tuesday, hitting $288.82. 452,607 shares of the stock traded hands, compared to its average volume of 1,010,735. The firm has a 50 day moving average price of $298.44 and a 200 day moving average price of $277.37. The firm has a market cap of $117.68 billion, a price-to-earnings ratio of 30.82, a PEG ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

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 research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Stockholders of record on Friday, December 13th were given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. Automatic Data Processing’s dividend payout ratio is 65.74%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 40,058 shares of company stock worth $12,009,103. 0.21% of the stock is owned by company insiders.

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.