1900 Wealth Management LLC Sells 279 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

1900 Wealth Management LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,500 shares of the business services provider’s stock after selling 279 shares during the quarter. 1900 Wealth Management LLC’s holdings in Automatic Data Processing were worth $349,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $35,000. Raleigh Capital Management Inc. boosted its position in Automatic Data Processing by 106.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Carmel Capital Partners LLC boosted its position in Automatic Data Processing by 43.4% during the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock worth $55,000 after acquiring an additional 69 shares during the last quarter. Finally, VisionPoint Advisory Group LLC raised its stake in shares of Automatic Data Processing by 323.2% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after purchasing an additional 181 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the transaction, the vice president now owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the transaction, the vice president now owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock worth $3,741,859 over the last 90 days. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ADP shares. Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. StockNews.com lowered 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. Finally, Mizuho upped their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $254.58.

Automatic Data Processing Stock Up 0.3 %

Shares of NASDAQ:ADP traded up $0.74 during mid-day trading on Tuesday, hitting $247.05. 364,325 shares of the company traded hands, compared to its average volume of 1,791,688. The stock has a 50-day moving average price of $247.15 and a two-hundred day moving average price of $239.21. The stock has a market cap of $101.49 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results 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 firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period last year, the company earned $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. Automatic Data Processing’s payout ratio is 65.19%.

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.