BKM Wealth Management LLC Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

BKM Wealth Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 8.6% in the fourth quarter, HoldingsChannel.com reports. The fund owned 5,146 shares of the business services provider’s stock after selling 485 shares during the period. BKM Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,506,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of ADP. Creative Planning increased its position in shares of Automatic Data Processing by 2.8% during the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after acquiring an additional 3,456 shares during the last quarter. Veracity Capital LLC purchased a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $204,000. OLD National Bancorp IN increased its position in shares of Automatic Data Processing by 4.7% during the third quarter. OLD National Bancorp IN now owns 12,692 shares of the business services provider’s stock valued at $3,512,000 after acquiring an additional 567 shares during the last quarter. Arlington Partners LLC increased its position in shares of Automatic Data Processing by 14.3% during the third quarter. Arlington Partners LLC now owns 14,664 shares of the business services provider’s stock valued at $4,058,000 after acquiring an additional 1,829 shares during the last quarter. Finally, Bellecapital International Ltd. increased its position in shares of Automatic Data Processing by 0.5% during the third quarter. Bellecapital International Ltd. now owns 24,425 shares of the business services provider’s stock valued at $6,759,000 after acquiring an additional 131 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Mizuho increased their price objective 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 reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Down 0.7 %

ADP opened at $308.15 on Tuesday. The company has a market cap of $125.56 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79. The business’s 50-day moving average price is $297.56 and its 200-day moving average price is $288.77. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s payout ratio is presently 64.23%.

About Automatic Data Processing

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.