Automatic Data Processing, Inc. (NASDAQ:ADP) Position Decreased by Byrne Asset Management LLC

Byrne Asset Management LLC reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 13.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 828 shares of the business services provider’s stock after selling 130 shares during the quarter. Byrne Asset Management LLC’s holdings in Automatic Data Processing were worth $242,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in ADP. CWM LLC boosted its stake in Automatic Data Processing by 8.7% in the 3rd quarter. CWM LLC now owns 19,941 shares of the business services provider’s stock worth $5,518,000 after purchasing an additional 1,603 shares during the period. Hexagon Capital Partners LLC lifted its holdings in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares in the last quarter. Wedmont Private Capital boosted its position in shares of Automatic Data Processing by 6.6% in the third quarter. Wedmont Private Capital now owns 3,747 shares of the business services provider’s stock worth $1,057,000 after buying an additional 231 shares during the period. Cypress Wealth Services LLC grew its holdings in shares of Automatic Data Processing by 4.8% during the third quarter. Cypress Wealth Services LLC now owns 896 shares of the business services provider’s stock valued at $248,000 after buying an additional 41 shares in the last quarter. Finally, Watts Gwilliam & Co. LLC acquired a new position in Automatic Data Processing during the third quarter valued at $204,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. TD Cowen raised their price target 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. Mizuho upped their price objective 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. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $293.55.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 over the last three months. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 1.0 %

Shares of Automatic Data Processing stock opened at $305.97 on Friday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $297.21 and a two-hundred day moving average price of $285.99. The stock has a market capitalization of $124.67 billion, a P/E ratio of 31.91, a PEG ratio of 3.52 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 (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.01%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.