LVW Advisors LLC Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

LVW Advisors LLC decreased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 4th quarter, HoldingsChannel reports. The fund owned 1,581 shares of the business services provider’s stock after selling 41 shares during the quarter. LVW Advisors LLC’s holdings in Automatic Data Processing were worth $463,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of ADP. Moloney Securities Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $209,000. Nomura Asset Management Co. Ltd. increased its holdings in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares during the period. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $470,000. Dash Acquisitions Inc. boosted its stake in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after buying an additional 2,781 shares during the period. Finally, DRW Securities LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth about $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction 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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders 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 Stock Down 0.0 %

ADP stock opened at $296.18 on Tuesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month 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 company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. The company has a fifty day moving average price of $297.90 and a 200 day moving average price of $280.60.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.08 earnings per share. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Analyst Upgrades and Downgrades

ADP has been the topic of several analyst reports. TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their price objective 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. Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Finally, StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $289.91.

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.