Tyche Wealth Partners LLC Lowers Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tyche Wealth Partners LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,885 shares of the business services provider’s stock after selling 73 shares during the quarter. Tyche Wealth Partners LLC’s holdings in Automatic Data Processing were worth $798,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in ADP. Petredis Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the last quarter. Moors & Cabot Inc. lifted its position in Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 39 shares in the last quarter. Schmidt P J Investment Management Inc. increased its holdings in Automatic Data Processing by 0.4% in the 2nd quarter. Schmidt P J Investment Management Inc. now owns 9,645 shares of the business services provider’s stock worth $2,302,000 after acquiring an additional 40 shares in the last quarter. Trifecta Capital Advisors LLC increased its stake in shares of Automatic Data Processing by 22.1% in the third quarter. Trifecta Capital Advisors LLC now owns 221 shares of the business services provider’s stock worth $61,000 after purchasing an additional 40 shares in the last quarter. Finally, Confluence Wealth Services Inc. lifted its position in shares of Automatic Data Processing by 5.0% in the second quarter. Confluence Wealth Services Inc. now owns 863 shares of the business services provider’s stock valued at $206,000 after acquiring an additional 41 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Bank of America upped their target price on shares of Automatic Data Processing from $250.00 to $267.00 and gave the stock a “neutral” rating in a research report on Thursday, August 1st. JPMorgan Chase & Co. lifted their price target on shares of Automatic Data Processing from $250.00 to $285.00 and gave the company an “underweight” rating in a report on Tuesday, August 20th. Barclays increased their price objective on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a report on Monday, August 5th. Finally, Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, nine 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 target price of $277.64.

Insider Transactions at Automatic Data Processing

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the firm’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the transaction, the director now owns 36,741 shares in the company, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction on Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now directly owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 19,147 shares of the company’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $274.38, for a total value of $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares of the company’s stock, valued at $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 58,817 shares of company stock worth $15,999,208. Insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ:ADP traded up $1.16 during trading on Tuesday, hitting $287.60. The company had a trading volume of 407,398 shares, compared to its average volume of 1,620,497. The stock has a market cap of $117.71 billion, a price-to-earnings ratio of 32.05, a price-to-earnings-growth ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day simple moving average of $279.83 and a two-hundred day simple moving average of $258.84. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $294.18.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.09 EPS for the quarter, topping the consensus estimate of $2.06 by $0.03. The company had revenue of $4.80 billion during the quarter, compared to analyst estimates of $4.74 billion. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. Automatic Data Processing’s quarterly revenue was up 7.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.89 earnings per share. As a group, equities analysts forecast that Automatic Data Processing, Inc. will post 10.04 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Friday, September 13th were given a dividend of $1.40 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $5.60 annualized dividend and a dividend yield of 1.95%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.