Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,514 shares of the business services provider’s stock after selling 82 shares during the quarter. Wrapmanager Inc.’s holdings in Automatic Data Processing were worth $353,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. OFI Invest Asset Management purchased a new stake in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the fourth quarter worth $35,000. Raleigh Capital Management Inc. raised its position in Automatic Data Processing by 106.0% in the third 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 in the last quarter. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at $41,000. Finally, Bfsg LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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 transaction of $90,899.68. Following the transaction, the vice president now directly 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. Over the last 90 days, insiders have sold 2,966 shares of company stock worth $749,524. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ADP shares. JPMorgan Chase & Co. decreased their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. TD Cowen dropped their price objective on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday, May 2nd. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their target price for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Finally, Mizuho upped their target price 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, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $255.42.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $2.21 during trading on Thursday, reaching $245.15. The company had a trading volume of 1,020,238 shares, compared to its average volume of 1,765,245. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The stock has a 50-day moving average price of $245.12 and a two-hundred day moving average price of $238.97. The stock has a market capitalization of $100.34 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.52 EPS. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed 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. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing 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.