Good Life Advisors LLC Sells 145 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Good Life Advisors LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,848 shares of the business services provider’s stock after selling 145 shares during the quarter. Good Life Advisors LLC’s holdings in Automatic Data Processing were worth $541,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. DSM Capital Partners LLC raised its position in shares of Automatic Data Processing by 8.4% during the fourth quarter. DSM Capital Partners LLC now owns 3,952 shares of the business services provider’s stock valued at $1,157,000 after buying an additional 305 shares during the last quarter. Convergence Investment Partners LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at $201,000. Atlas Legacy Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $701,000. Bank of Jackson Hole Trust purchased a new stake in Automatic Data Processing in the 4th quarter worth $144,000. Finally, Lorne Steinberg Wealth Management Inc. lifted its stake in Automatic Data Processing by 1.3% in the 4th quarter. Lorne Steinberg Wealth Management Inc. now owns 8,485 shares of the business services provider’s stock worth $2,484,000 after purchasing an additional 109 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group lifted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen boosted 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. Finally, Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $293.55.

Insider Buying and Selling

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was 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 directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,478 shares of company stock valued at $1,617,241. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

ADP stock opened at $311.97 on Friday. The firm’s fifty day simple moving average is $298.44 and its two-hundred day simple moving average is $289.74. The stock has a market capitalization of $127.12 billion, a price-to-earnings ratio of 32.53, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing’s payout ratio is 64.23%.

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.