Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Evermay Wealth Management LLC

Evermay Wealth Management LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 24.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,829 shares of the business services provider’s stock after selling 899 shares during the quarter. Evermay Wealth Management LLC’s holdings in Automatic Data Processing were worth $662,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $35,000. Evolution Advisers Inc. purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $41,000. Raleigh Capital Management Inc. lifted its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Bfsg LLC purchased a new stake in Automatic Data Processing during the fourth quarter valued at about $42,000. Finally, Vestor Capital LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at about $44,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares of the company’s stock, valued at $5,159,958.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 1.0 %

NASDAQ:ADP traded down $2.59 during mid-day trading on Friday, reaching $248.90. The stock had a trading volume of 973,940 shares, compared to its average volume of 1,279,904. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50 day moving average is $246.17 and its 200 day moving average is $241.42. The stock has a market cap of $101.87 billion, a P/E ratio of 27.78, a PEG ratio of 2.74 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company posted $2.52 earnings per share. The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.17 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.25%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. TD Cowen dropped their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a report on Thursday, February 1st. JPMorgan Chase & Co. dropped their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Finally, Evercore ISI upped their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $255.42.

Check Out Our Latest Stock Analysis on Automatic Data Processing

Automatic Data Processing Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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