44 Wealth Management LLC Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

44 Wealth Management LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 10,270 shares of the business services provider’s stock after selling 393 shares during the quarter. Automatic Data Processing comprises 1.2% of 44 Wealth Management LLC’s investment portfolio, making the stock its 14th largest holding. 44 Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,006,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ADP. McAdam LLC raised its holdings in shares of Automatic Data Processing by 6.7% during the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock valued at $496,000 after buying an additional 112 shares in the last quarter. Mcdaniel Terry & Co. increased its stake in shares of Automatic Data Processing by 0.4% during the third quarter. Mcdaniel Terry & Co. now owns 184,918 shares of the business services provider’s stock valued at $51,172,000 after buying an additional 738 shares during the period. Mount Yale Investment Advisors LLC boosted its position in shares of Automatic Data Processing by 8.2% during the third quarter. Mount Yale Investment Advisors LLC now owns 7,936 shares of the business services provider’s stock valued at $2,196,000 after purchasing an additional 599 shares in the last quarter. Nicholson Wealth Management Group LLC bought a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $1,037,000. Finally, Silver Oak Securities Incorporated boosted its position in shares of 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 in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. 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 ninety days. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

Shares of Automatic Data Processing stock opened at $310.76 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72. The stock has a 50 day moving average of $298.72 and a 200 day moving average of $290.11. The firm has a market capitalization of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share 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. Stockholders of record on Friday, March 14th will be given 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 dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADP shares. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. TD Cowen lifted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $293.55.

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.