Axxcess Wealth Management LLC Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Axxcess Wealth Management LLC lowered its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.4% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 34,541 shares of the business services provider’s stock after selling 474 shares during the period. Axxcess Wealth Management LLC’s holdings in Automatic Data Processing were worth $10,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. AMG National Trust Bank lifted its holdings in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares in the last quarter. Aspiriant LLC lifted its holdings in 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 purchasing an additional 36 shares in the last quarter. Precedent Wealth Partners LLC lifted its holdings in 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 purchasing an additional 36 shares in the last quarter. Riversedge Advisors LLC lifted its holdings in 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 purchasing an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. lifted its holdings in Automatic Data Processing by 2.0% in the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider’s stock worth $539,000 after purchasing an additional 37 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the stock in a transaction 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 transaction, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was 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 position. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock valued at $1,762,074 in the last quarter. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $296.58 on Tuesday. The company has a market cap of $120.84 billion, a P/E ratio of 30.93, a P/E/G ratio of 3.62 and a beta of 0.76. 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 $302.51 and its 200-day moving average price is $294.90. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $296.18.

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.