Litman Gregory Wealth Management LLC Has $1.15 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Litman Gregory Wealth Management LLC reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.2% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,932 shares of the business services provider’s stock after selling 400 shares during the period. Litman Gregory Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,151,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Newbridge Financial Services Group Inc. grew its holdings in Automatic Data Processing by 43.2% during the 2nd quarter. Newbridge Financial Services Group Inc. now owns 169 shares of the business services provider’s stock worth $40,000 after acquiring an additional 51 shares during the period. Massmutual Trust Co. FSB ADV grew its stake in shares of Automatic Data Processing by 13.9% during the third quarter. Massmutual Trust Co. FSB ADV now owns 2,763 shares of the business services provider’s stock worth $765,000 after purchasing an additional 337 shares during the period. Czech National Bank grew its stake in shares of Automatic Data Processing by 6.5% during the third quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock worth $22,989,000 after purchasing an additional 5,077 shares during the period. Unique Wealth LLC increased its holdings in Automatic Data Processing by 11.6% in the third quarter. Unique Wealth LLC now owns 5,059 shares of the business services provider’s stock valued at $1,400,000 after purchasing an additional 524 shares during the last quarter. Finally, Wiser Wealth Management Inc acquired a new position in Automatic Data Processing in the third quarter valued at about $253,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ADP shares. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday, January 27th. TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. Finally, Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $291.27.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $303.01 on Friday. The firm has a market cap of $123.46 billion, a PE ratio of 31.60, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The company’s fifty day simple moving average is $297.16 and its 200-day simple moving average is $284.32. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 81.85% and a net margin of 19.76%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal 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 paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available 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 transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

Automatic Data Processing 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.