Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Everett Harris & Co. CA

Everett Harris & Co. CA lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,067 shares of the business services provider’s stock after selling 282 shares during the period. Everett Harris & Co. CA’s holdings in Automatic Data Processing were worth $2,361,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. raised its stake in Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares in the last quarter. Aspiriant LLC lifted its holdings in shares of Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC boosted its position in shares of Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Finally, Petredis Investment Advisors LLC increased its stake in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after acquiring an additional 37 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $303.01 on Friday. The firm’s 50 day moving average is $297.20 and its 200 day moving average is $283.90. 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, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The stock has a market capitalization of $123.46 billion, a P/E ratio of 31.60, a PEG ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 81.85%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Analyst Ratings Changes

ADP has been the topic of several recent research reports. TD Cowen raised their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Barclays upped their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday, January 27th. 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 research report on Monday, November 4th. Finally, Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $291.27.

Insider Buying and Selling

In other news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% 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.