Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Heritage Wealth Advisors

Heritage Wealth Advisors reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 179,835 shares of the business services provider’s stock after selling 3,171 shares during the quarter. Automatic Data Processing accounts for approximately 2.6% of Heritage Wealth Advisors’ portfolio, making the stock its 15th largest holding. Heritage Wealth Advisors’ holdings in Automatic Data Processing were worth $52,643,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Financial Inc. purchased a new position in Automatic Data Processing during the 4th quarter valued at about $342,942,000. Proficio Capital Partners LLC grew its position in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in Automatic Data Processing by 332.3% in the 3rd 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 buying an additional 479,145 shares in the last quarter. Finally, Amundi boosted its position in Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after acquiring an additional 449,431 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Jefferies Financial Group raised 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. UBS Group upped their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. 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 reaffirmed a “sector perform” rating and set a $315.00 price target 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 issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Trading Up 0.2 %

NASDAQ:ADP opened at $299.38 on Wednesday. The business’s 50-day moving average is $303.41 and its two-hundred day moving average is $295.91. The firm has a market capitalization of $121.98 billion, a PE ratio of 31.22, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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 predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now directly owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company’s stock.

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.