M3 Advisory Group LLC Decreases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

M3 Advisory Group LLC cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,119 shares of the business services provider’s stock after selling 38 shares during the quarter. M3 Advisory Group LLC’s holdings in Automatic Data Processing were worth $328,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Public Sector Pension Investment Board boosted its holdings in shares of Automatic Data Processing by 71.0% during the second quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 6,439 shares during the period. MBB Public Markets I LLC raised its position in Automatic Data Processing by 2,844.7% during the 2nd quarter. MBB Public Markets I LLC now owns 29,005 shares of the business services provider’s stock valued at $6,923,000 after purchasing an additional 28,020 shares during the last quarter. Texas Capital Bank Wealth Management Services Inc lifted its holdings in Automatic Data Processing by 4.3% in the 2nd quarter. Texas Capital Bank Wealth Management Services Inc now owns 1,895 shares of the business services provider’s stock worth $452,000 after buying an additional 78 shares during the period. Kathmere Capital Management LLC grew its position in shares of Automatic Data Processing by 35.7% in the 2nd quarter. Kathmere Capital Management LLC now owns 4,584 shares of the business services provider’s stock worth $1,094,000 after buying an additional 1,205 shares during the last quarter. Finally, Ascent Group LLC increased its stake in shares of Automatic Data Processing by 11.3% during the second quarter. Ascent Group LLC now owns 14,870 shares of the business services provider’s stock valued at $3,549,000 after buying an additional 1,512 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on ADP. Royal Bank of Canada lifted 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 report on Thursday, October 31st. Mizuho boosted 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 raised their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday, January 19th. Finally, Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP opened at $297.10 on Friday. The company has a market cap of $121.06 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79. The business’s fifty day simple moving average is $297.13 and its two-hundred day simple moving average is $282.10. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the firm posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is owned by insiders.

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.