Financial & Tax Architects LLC Sells 84 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Financial & Tax Architects LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,437 shares of the business services provider’s stock after selling 84 shares during the quarter. Automatic Data Processing accounts for 1.7% of Financial & Tax Architects LLC’s portfolio, making the stock its 14th largest position. Financial & Tax Architects LLC’s holdings in Automatic Data Processing were worth $6,861,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Renaissance Technologies LLC bought a new stake in Automatic Data Processing during the 2nd quarter worth about $27,044,000. Edgestream Partners L.P. raised its holdings in shares of Automatic Data Processing by 237.6% in the 2nd quarter. Edgestream Partners L.P. now owns 6,728 shares of the business services provider’s stock valued at $1,606,000 after purchasing an additional 4,735 shares during the period. Waterloo Capital L.P. raised its holdings in shares of Automatic Data Processing by 10.2% in the 2nd quarter. Waterloo Capital L.P. now owns 1,057 shares of the business services provider’s stock valued at $252,000 after purchasing an additional 98 shares during the period. Seven Eight Capital LP bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $314,000. Finally, XTX Topco Ltd bought a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $1,032,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADP. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. 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 research note on Monday, November 4th. Finally, TD Cowen increased 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. 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 data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Trading Down 0.0 %

Shares of ADP traded down $0.05 during trading hours on Friday, hitting $296.18. 2,405,360 shares of the stock were exchanged, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $298.07 and a 200-day moving average of $279.57. The firm has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period last year, the company posted $2.08 earnings per share. On average, research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 65.74%.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % 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 David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

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.