Aviance Capital Partners LLC Sells 120 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Aviance Capital Partners LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the 4th quarter, Holdings Channel reports. The firm owned 9,279 shares of the business services provider’s stock after selling 120 shares during the quarter. Aviance Capital Partners LLC’s holdings in Automatic Data Processing were worth $2,716,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. AMG National Trust Bank raised its position in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock valued at $3,318,000 after purchasing an additional 33 shares during the last quarter. Harbour Investments Inc. raised its position in shares of Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares in the last quarter. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC raised its position in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. UBS Group increased their target price on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Stock Performance

Shares of ADP opened at $302.46 on Friday. The business’s fifty day simple moving average is $301.87 and its two-hundred day simple moving average is $293.26. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a market cap of $123.24 billion, a price-to-earnings ratio of 31.54, a P/E/G ratio of 3.62 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. 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 announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.04%. Automatic Data Processing’s dividend payout ratio is 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

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.