Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Ascent Wealth Partners LLC

Ascent Wealth Partners LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 4th quarter, Holdings Channel reports. The institutional investor owned 50,429 shares of the business services provider’s stock after selling 498 shares during the period. Automatic Data Processing accounts for about 2.0% of Ascent Wealth Partners LLC’s portfolio, making the stock its 10th biggest position. Ascent Wealth Partners LLC’s holdings in Automatic Data Processing were worth $14,762,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Silver Oak Securities Incorporated grew its holdings in Automatic Data Processing by 193.7% during the third quarter. Silver Oak Securities Incorporated now owns 1,624 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 1,071 shares during the period. Joel Isaacson & Co. LLC grew its holdings in Automatic Data Processing by 4.6% during the third quarter. Joel Isaacson & Co. LLC now owns 4,207 shares of the business services provider’s stock valued at $1,164,000 after purchasing an additional 186 shares during the period. Country Club Bank grew its holdings in Automatic Data Processing by 1.8% during the third quarter. Country Club Bank now owns 5,805 shares of the business services provider’s stock valued at $1,584,000 after purchasing an additional 105 shares during the period. Signet Investment Advisory Group Inc. acquired a new position in Automatic Data Processing during the third quarter valued at approximately $202,000. Finally, BKM Wealth Management LLC grew its holdings in Automatic Data Processing by 16.7% during the third quarter. BKM Wealth Management LLC now owns 5,631 shares of the business services provider’s stock valued at $1,558,000 after purchasing an additional 804 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

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

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $310.76 on Friday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $298.72 and its 200-day simple moving average is $290.32. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72. The firm has a market cap of $126.62 billion, a PE ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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 research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.