Wedbush Securities Inc. Has $662,000 Position in Automatic Data Processing (ADP)
Wedbush Securities Inc. cut its position in shares of Automatic Data Processing (NASDAQ:ADP) by 3.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,146 shares of the business services provider’s stock after selling 149 shares during the quarter. Wedbush Securities Inc.’s holdings in Automatic Data Processing were worth $662,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in ADP. Cerebellum GP LLC raised its position in Automatic Data Processing by 1,376.9% in the fourth quarter. Cerebellum GP LLC now owns 192 shares of the business services provider’s stock worth $25,000 after acquiring an additional 179 shares during the period. Tributary Capital Management LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. AlphaMark Advisors LLC raised its position in Automatic Data Processing by 319.1% in the fourth quarter. AlphaMark Advisors LLC now owns 197 shares of the business services provider’s stock worth $26,000 after acquiring an additional 150 shares during the period. Lake Point Wealth Management bought a new stake in Automatic Data Processing in the fourth quarter worth about $26,000. Finally, Horan Securities Inc. bought a new stake in Automatic Data Processing in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 80.48% of the company’s stock.
Automatic Data Processing stock opened at $162.44 on Friday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 1.05 and a current ratio of 1.05. The company has a market cap of $70.76 billion, a P/E ratio of 37.34, a PEG ratio of 2.32 and a beta of 0.96. Automatic Data Processing has a 1-year low of $112.58 and a 1-year high of $164.41.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $0.79 per share. This represents a $3.16 dividend on an annualized basis and a yield of 1.95%. The ex-dividend date of this dividend is Thursday, June 13th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 72.64%.
Several analysts have recently issued reports on ADP shares. Zacks Investment Research reissued a “buy” rating and issued a $146.00 price target on shares of Automatic Data Processing in a research report on Monday, December 31st. BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Friday, April 5th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Automatic Data Processing currently has an average rating of “Buy” and a consensus target price of $153.43.
In related news, VP John Ayala sold 3,121 shares of the company’s stock in a transaction that occurred on Tuesday, January 22nd. The shares were sold at an average price of $133.98, for a total transaction of $418,151.58. Following the sale, the vice president now owns 4,140 shares of the company’s stock, valued at approximately $554,677.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Stuart Sackman sold 1,478 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $155.13, for a total transaction of $229,282.14. Following the sale, the vice president now directly owns 24,122 shares in the company, valued at approximately $3,742,045.86. The disclosure for this sale can be found here. Insiders have sold a total of 86,721 shares of company stock worth $12,714,980 in the last ninety days. 0.33% of the stock is currently owned by insiders.
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Automatic Data Processing Profile
Automatic Data Processing, Inc provides business process outsourcing services worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO) Services. The Employer Services segment offers various human resources (HR) outsourcing and technology-based human capital management solutions.
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