Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Laurel Wealth Advisors LLC

Laurel Wealth Advisors LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.3% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,155 shares of the business services provider’s stock after selling 53 shares during the period. Laurel Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $3,531,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the third quarter valued at $392,000. Americana Partners LLC boosted its stake in Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after buying an additional 660 shares in the last quarter. Everence Capital Management Inc. boosted its stake in Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after buying an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new position in Automatic Data Processing during the fourth quarter valued at about $1,635,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the company. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price target for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $254.58.

Automatic Data Processing Stock Down 1.3 %

Automatic Data Processing stock traded down $3.27 during mid-day trading on Friday, hitting $243.07. The company’s stock had a trading volume of 1,555,489 shares, compared to its average volume of 1,384,926. The firm’s 50 day moving average is $246.70 and its 200 day moving average is $239.26. The company has a market cap of $99.85 billion, a PE ratio of 28.30, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $205.53 and a 52-week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.96 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Kwon sold 863 shares of the firm’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 15,162 shares of company stock valued at $3,741,859. Corporate insiders own 0.26% of the company’s stock.

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.