Wealthspire Advisors LLC Sells 485 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthspire Advisors LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,822 shares of the business services provider’s stock after selling 485 shares during the period. Wealthspire Advisors LLC’s holdings in Automatic Data Processing were worth $2,875,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of ADP. Accredited Investors Inc. boosted its position in Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after acquiring an additional 2,264,202 shares during the last quarter. Holocene Advisors LP bought a new stake in Automatic Data Processing during the third quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund boosted its position in Automatic Data Processing by 332.3% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock valued at $172,497,000 after acquiring an additional 479,145 shares during the last quarter. State Street Corp boosted its position in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after acquiring an additional 286,080 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $310.76 on Monday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72. The stock has a market cap of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50-day simple moving average is $298.72 and its 200 day simple moving average is $290.54.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $293.55.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the 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 completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

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.