Transcend Capital Advisors LLC Reduces Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Transcend Capital Advisors LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 26,092 shares of the business services provider’s stock after selling 334 shares during the quarter. Transcend Capital Advisors LLC’s holdings in Automatic Data Processing were worth $7,638,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in ADP. Tower Wealth Partners Inc. grew its stake in shares of Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares during the last quarter. Harbour Investments Inc. raised its position in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares during the last quarter. Aspiriant LLC boosted its stake in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares in the last quarter. Precedent Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after purchasing an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC grew its holdings in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity 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 stock was 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 of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of research reports. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada restated 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 research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Price Performance

Shares of ADP opened at $311.97 on Friday. The firm has a market cap of $127.12 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. 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 business’s 50 day moving average price is $298.44 and its two-hundred day moving average price is $289.74.

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

Automatic Data Processing Announces Dividend

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 is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.