Global Retirement Partners LLC Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Global Retirement Partners LLC lowered its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 38.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,854 shares of the business services provider’s stock after selling 3,001 shares during the period. Global Retirement Partners LLC’s holdings in Automatic Data Processing were worth $1,421,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. McAdam LLC increased its holdings in shares of Automatic Data Processing by 6.7% in the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock valued at $496,000 after purchasing an additional 112 shares in the last quarter. Mcdaniel Terry & Co. increased its holdings in Automatic Data Processing by 0.4% in the third quarter. Mcdaniel Terry & Co. now owns 184,918 shares of the business services provider’s stock valued at $51,172,000 after buying an additional 738 shares in the last quarter. Mount Yale Investment Advisors LLC lifted its position in shares of Automatic Data Processing by 8.2% during the 3rd quarter. Mount Yale Investment Advisors LLC now owns 7,936 shares of the business services provider’s stock valued at $2,196,000 after acquiring an additional 599 shares during the period. Nicholson Wealth Management Group LLC purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $1,037,000. Finally, Silver Oak Securities Incorporated grew its holdings in shares of Automatic Data Processing by 193.7% in the 3rd quarter. Silver Oak Securities Incorporated now owns 1,624 shares of the business services provider’s stock worth $443,000 after acquiring an additional 1,071 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred on 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 directly owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock worth $1,617,241 in the last quarter. 0.21% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have commented on ADP shares. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP opened at $310.76 on Friday. The firm’s 50 day moving average price is $298.72 and its 200 day moving average price is $290.11. 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 has a market cap of $126.62 billion, a P/E ratio of 32.40, a price-to-earnings-growth ratio of 3.65 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72.

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

Automatic Data Processing Announces Dividend

The business also recently declared 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. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.