Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by TCV Trust & Wealth Management Inc.

TCV Trust & Wealth Management Inc. lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the fourth quarter, Holdings Channel reports. The fund owned 61,387 shares of the business services provider’s stock after selling 1,642 shares during the period. Automatic Data Processing comprises 1.7% of TCV Trust & Wealth Management Inc.’s investment portfolio, making the stock its 16th largest position. TCV Trust & Wealth Management Inc.’s holdings in Automatic Data Processing were worth $17,970,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of ADP. Exchange Traded Concepts LLC lifted its holdings in Automatic Data Processing by 22.9% during the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after buying an additional 861 shares during the last quarter. Sapient Capital LLC raised its position in shares of Automatic Data Processing by 4.5% during the 3rd quarter. Sapient Capital LLC now owns 1,380 shares of the business services provider’s stock worth $384,000 after acquiring an additional 59 shares in the last quarter. CX Institutional lifted its stake in Automatic Data Processing by 16.8% during the third quarter. CX Institutional now owns 23,021 shares of the business services provider’s stock worth $6,371,000 after purchasing an additional 3,313 shares during the last quarter. Creative Planning boosted its holdings in Automatic Data Processing by 2.8% in the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after purchasing an additional 3,456 shares in the last quarter. Finally, GenWealth Group Inc. purchased a new position in Automatic Data Processing in the third quarter valued at approximately $201,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

NASDAQ:ADP opened at $305.78 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $297.21 and its 200-day simple moving average is $287.34. The firm has a market cap of $124.59 billion, a P/E ratio of 31.89, a PEG ratio of 3.60 and a beta of 0.79.

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 (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analysts Set New Price Targets

ADP has been the subject of several recent analyst reports. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two 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 stock currently has a consensus rating of “Hold” and an average price target of $293.55.

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.