Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Decreased by NewSquare Capital LLC

NewSquare Capital LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 93.9% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 146 shares of the business services provider’s stock after selling 2,250 shares during the quarter. NewSquare Capital LLC’s holdings in Automatic Data Processing were worth $34,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. OFI Invest Asset Management purchased a new position in Automatic Data Processing in the third quarter valued at about $25,000. Fortitude Family Office LLC acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $35,000. Raleigh Capital Management Inc. increased its stake in shares of 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 purchasing an additional 89 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in shares of Automatic Data Processing by 43.4% in the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 69 shares during the last quarter. Finally, VisionPoint Advisory Group LLC boosted its holdings in Automatic Data Processing by 323.2% in the third 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. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ:ADP opened at $246.61 on Thursday. The company’s 50-day moving average price is $247.01 and its two-hundred day moving average price is $239.26. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market cap of $101.30 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.32 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.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the business 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 anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders 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 dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is 65.19%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 in the last quarter. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ADP. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Bank of America upgraded shares of 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 note on Wednesday, January 17th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average 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.