Automatic Data Processing, Inc. (NASDAQ:ADP) Position Trimmed by Beaumont Financial Advisors LLC

Beaumont Financial Advisors LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.9% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 3,077 shares of the business services provider’s stock after selling 1,253 shares during the quarter. Beaumont Financial Advisors LLC’s holdings in Automatic Data Processing were worth $717,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of ADP. Lafayette Investments Inc. increased its position in Automatic Data Processing by 10.8% in the 4th quarter. Lafayette Investments Inc. now owns 3,501 shares of the business services provider’s stock valued at $816,000 after acquiring an additional 342 shares during the period. Fidelis Capital Partners LLC increased its position in shares of Automatic Data Processing by 101.4% in the fourth quarter. Fidelis Capital Partners LLC now owns 5,266 shares of the business services provider’s stock worth $1,227,000 after acquiring an additional 2,651 shares in the last quarter. Xponance Inc. boosted its position in shares of Automatic Data Processing by 1.7% in the fourth quarter. Xponance Inc. now owns 90,076 shares of the business services provider’s stock worth $20,985,000 after buying an additional 1,496 shares during the period. AIA Group Ltd grew its position in Automatic Data Processing by 23.7% during the fourth quarter. AIA Group Ltd now owns 144,292 shares of the business services provider’s stock valued at $33,616,000 after purchasing an additional 27,664 shares in the last quarter. Finally, Cambridge Trust Co. lifted its holdings in shares of Automatic Data Processing by 1.8% during the 4th quarter. Cambridge Trust Co. now owns 56,905 shares of the business services provider’s stock valued at $13,257,000 after buying an additional 988 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of several recent analyst reports. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. 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. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 over the last quarter. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Trading Up 0.5 %

Shares of NASDAQ:ADP opened at $243.31 on Friday. 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 market cap of $99.95 billion, a price-to-earnings ratio of 28.32, a PEG ratio of 2.27 and a beta of 0.78. The company’s fifty day simple moving average is $247.22 and its 200 day simple moving average is $239.23. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.96 earnings per share. As a group, research analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

About Automatic Data Processing

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.