Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Resonant Capital Advisors LLC

Resonant Capital Advisors LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 12,990 shares of the business services provider’s stock after selling 1,124 shares during the period. Resonant Capital Advisors LLC’s holdings in Automatic Data Processing were worth $3,042,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Morgan Stanley boosted its holdings in shares of Automatic Data Processing by 7.8% in the fourth quarter. Morgan Stanley now owns 11,010,014 shares of the business services provider’s stock valued at $2,629,852,000 after acquiring an additional 794,328 shares during the period. Charles Schwab Investment Management Inc. raised its position in Automatic Data Processing by 2.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 8,670,083 shares of the business services provider’s stock valued at $2,085,849,000 after purchasing an additional 198,008 shares during the last quarter. Moneta Group Investment Advisors LLC boosted its stake in Automatic Data Processing by 94,265.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock worth $1,617,256,000 after purchasing an additional 6,763,553 shares during the period. Northern Trust Corp boosted its stake in Automatic Data Processing by 5.1% during the 3rd quarter. Northern Trust Corp now owns 5,902,520 shares of the business services provider’s stock worth $1,420,028,000 after purchasing an additional 288,234 shares during the period. Finally, Wellington Management Group LLP grew its position in Automatic Data Processing by 1.5% during the 3rd quarter. Wellington Management Group LLP now owns 5,242,859 shares of the business services provider’s stock worth $1,261,327,000 after purchasing an additional 77,187 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Don Mcguire sold 11,333 shares of the firm’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 completion of the sale, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 over the last three months. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. 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 Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Price Performance

Shares of ADP stock traded up $1.26 during trading hours on Friday, hitting $243.25. The company’s stock had a trading volume of 715,103 shares, compared to its average volume of 1,803,725. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The business has a fifty day moving average of $247.36 and a 200-day moving average of $239.20. The stock has a market cap of $99.92 billion, a price-to-earnings ratio of 28.29, a P/E/G ratio of 2.28 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.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates 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 period in the prior year, the firm posted $1.96 EPS. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

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.