Tanager Wealth Management LLP Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tanager Wealth Management LLP decreased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 953 shares of the business services provider’s stock after selling 79 shares during the quarter. Tanager Wealth Management LLP’s holdings in Automatic Data Processing were worth $280,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Czech National Bank raised its stake in Automatic Data Processing by 6.5% during the 3rd quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock worth $22,989,000 after acquiring an additional 5,077 shares during the period. Diversified Trust Co increased its position in Automatic Data Processing by 15.5% in the third quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock worth $3,473,000 after purchasing an additional 1,683 shares during the last quarter. Miracle Mile Advisors LLC increased its position in Automatic Data Processing by 16.3% in the third quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock worth $623,000 after purchasing an additional 316 shares during the last quarter. Bath Savings Trust Co increased its position in Automatic Data Processing by 1.3% in the third quarter. Bath Savings Trust Co now owns 97,348 shares of the business services provider’s stock worth $26,939,000 after purchasing an additional 1,251 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Automatic Data Processing by 36.6% during the third quarter. Versant Capital Management Inc now owns 1,072 shares of the business services provider’s stock worth $297,000 after buying an additional 287 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $304.67 on Wednesday. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $124.14 billion, a P/E ratio of 31.77, a P/E/G ratio of 3.52 and a beta of 0.79. The business’s 50 day moving average price is $297.22 and its 200 day moving average price is $285.26. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.02%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 in the last 90 days. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on ADP shares. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Barclays boosted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $293.55.

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.