Capital Asset Advisory Services LLC Sells 82 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Asset Advisory Services LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,877 shares of the business services provider’s stock after selling 82 shares during the period. Capital Asset Advisory Services LLC’s holdings in Automatic Data Processing were worth $548,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Creative Planning raised its holdings in shares of Automatic Data Processing by 2.1% during the second quarter. Creative Planning now owns 124,126 shares of the business services provider’s stock valued at $29,628,000 after purchasing an additional 2,566 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in Automatic Data Processing by 7.8% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 43,305 shares of the business services provider’s stock worth $10,343,000 after buying an additional 3,151 shares during the period. Quarry LP boosted its holdings in Automatic Data Processing by 585.8% in the second quarter. Quarry LP now owns 1,447 shares of the business services provider’s stock worth $345,000 after acquiring an additional 1,236 shares in the last quarter. Regal Investment Advisors LLC boosted its holdings in Automatic Data Processing by 10.0% in the second quarter. Regal Investment Advisors LLC now owns 15,342 shares of the business services provider’s stock worth $3,662,000 after acquiring an additional 1,401 shares in the last quarter. Finally, EP Wealth Advisors LLC grew its stake in Automatic Data Processing by 25.6% in the second quarter. EP Wealth Advisors LLC now owns 19,408 shares of the business services provider’s stock valued at $4,632,000 after acquiring an additional 3,951 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research reports. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. TD Cowen upped their target price 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. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 1.0 %

NASDAQ:ADP opened at $300.15 on Tuesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The firm has a 50-day moving average price of $297.13 and a two-hundred day moving average price of $282.77. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $122.30 billion, a price-to-earnings ratio of 32.03, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the business posted $2.08 earnings per share. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. On average, equities analysts expect 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 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.05%. Automatic Data Processing’s payout ratio is currently 65.74%.

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.