Eads & Heald Wealth Management Has $2.28 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Eads & Heald Wealth Management cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,805 shares of the business services provider’s stock after selling 60 shares during the period. Eads & Heald Wealth Management’s holdings in Automatic Data Processing were worth $2,284,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new position in Automatic Data Processing during the third quarter valued at $392,000. Americana Partners LLC boosted its stake in shares of Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after acquiring an additional 660 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after acquiring an additional 5,318 shares in the last quarter. BKM Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth about $1,635,000. Finally, Wayfinding Financial LLC boosted its stake in shares of Automatic Data Processing by 6.4% during the 3rd quarter. Wayfinding Financial LLC now owns 2,907 shares of the business services provider’s stock worth $695,000 after acquiring an additional 174 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.1 %

ADP traded up $0.23 during mid-day trading on Monday, reaching $244.08. The stock had a trading volume of 1,299,437 shares, compared to its average volume of 1,838,426. The stock has a market capitalization of $100.27 billion, a P/E ratio of 28.63, a P/E/G ratio of 2.29 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm’s fifty day simple moving average is $247.90 and its two-hundred day simple moving average is $239.12. Automatic Data Processing, Inc. has a 52 week low of $201.46 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 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the previous year, the firm earned $1.96 earnings per share. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.29%. Automatic Data Processing’s payout ratio is 65.19%.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The sale was disclosed in a filing with the SEC, which is available through this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. In the last three months, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ADP. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $254.58.

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.