Wealthspire Advisors LLC Sells 485 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthspire Advisors LLC decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,822 shares of the business services provider’s stock after selling 485 shares during the period. Wealthspire Advisors LLC’s holdings in Automatic Data Processing were worth $2,875,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $26,000. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Capital Performance Advisors LLP bought a new position in Automatic Data Processing during the third quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Down 0.4 %

Shares of ADP opened at $310.76 on Monday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $313.72. The company has a market cap of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The firm has a 50 day simple moving average of $298.72 and a two-hundred day simple moving average of $290.54.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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%. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is presently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the business’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 sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the company. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Mizuho lifted their price target on shares of 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 lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned 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 an average target price 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.