HFR Wealth Management LLC Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

HFR Wealth Management LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the fourth quarter, Holdings Channel reports. The fund owned 47,787 shares of the business services provider’s stock after selling 147 shares during the period. Automatic Data Processing makes up 3.5% of HFR Wealth Management LLC’s holdings, making the stock its 10th largest holding. HFR Wealth Management LLC’s holdings in Automatic Data Processing were worth $13,989,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Harbour Investments Inc. increased its holdings in shares of Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares in the last quarter. Aspiriant LLC increased its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after acquiring an additional 36 shares in the last quarter. Riversedge Advisors LLC increased its holdings in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its holdings in shares of Automatic Data Processing by 2.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock valued at $539,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 1.1 %

ADP stock opened at $318.64 on Tuesday. The stock’s fifty day simple moving average is $301.15 and its two-hundred day simple moving average is $292.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $320.50. The stock has a market cap of $129.83 billion, a P/E ratio of 33.23, a P/E/G ratio of 3.62 and a beta of 0.79.

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

Automatic Data Processing Announces Dividend

The company 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 $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 1.93%. Automatic Data Processing’s payout ratio is presently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently commented on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Mizuho lifted 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. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, Barclays lifted 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. Two equities 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 currently has an average rating of “Hold” and an average price target of $293.55.

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.