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

LMG Wealth Partners LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 1.0% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,474 shares of the business services provider’s stock after selling 226 shares during the quarter. Automatic Data Processing accounts for 1.4% of LMG Wealth Partners LLC’s holdings, making the stock its 29th largest holding. LMG Wealth Partners LLC’s holdings in Automatic Data Processing were worth $5,003,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $25,000. Coppell Advisory Solutions LLC purchased a new stake in shares of Automatic Data Processing in the 2nd quarter valued at about $30,000. Coppell Advisory Solutions Corp. purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $33,000. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Automatic Data Processing in the 1st quarter valued at about $31,000. Finally, DHJJ Financial Advisors Ltd. purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $34,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 1.0 %

NASDAQ ADP traded up $2.35 during trading hours on Tuesday, hitting $247.66. The company’s stock had a trading volume of 2,297,088 shares, compared to its average volume of 1,902,863. The stock has a fifty day moving average of $247.10 and a 200 day moving average of $238.92. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The firm has a market capitalization of $101.74 billion, a P/E ratio of 28.83, a PEG ratio of 2.35 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued 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 company had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Friday, March 8th were paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.26%. The ex-dividend date of this dividend was Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Insider Transactions at Automatic Data Processing

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

Wall Street Analyst Weigh In

Several research firms have commented on ADP. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. 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 lifted their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $254.58.

Check Out Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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