ZWJ Investment Counsel Inc. lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 0.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,522 shares of the business services provider’s stock after selling 51 shares during the period. ZWJ Investment Counsel Inc.’s holdings in Automatic Data Processing were worth $1,985,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also added to or reduced their stakes in the business. OFI Invest Asset Management bought a new position in Automatic Data Processing in the third quarter valued at about $25,000. Coppell Advisory Solutions LLC bought a new position in shares of Automatic Data Processing during the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new position in shares of Automatic Data Processing during the first quarter worth about $31,000. Coppell Advisory Solutions Corp. bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $33,000. Finally, Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing during the fourth quarter worth about $35,000. Institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Price Performance
ADP traded up $1.32 during trading on Friday, reaching $243.31. 1,638,700 shares of the company were exchanged, compared to its average volume of 1,816,781. The company’s 50-day moving average is $247.22 and its two-hundred day moving average is $239.23. The company has a market cap of $99.95 billion, a price-to-earnings ratio of 28.32, a P/E/G ratio of 2.28 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84.
Automatic Data Processing Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on ADP shares. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $254.58.
Read Our Latest Stock Report on Automatic Data Processing
Insiders Place Their Bets
In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of the stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock worth $3,741,859 in the last ninety days. 0.26% of the stock is currently owned by insiders.
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.
Featured Stories
- Five stocks we like better than Automatic Data Processing
- What is the S&P/TSX Index?
- Comprehensive Analysis of PayPal Stock
- What Are Growth Stocks and Investing in Them
- Intuitive Surgical Stock Can Trend Much Higher This YearÂ
- Upcoming IPO Stock Lockup Period, Explained
- Alibaba Stock Analysis: Insights, Trends, and Future Predictions
Want to see what other hedge funds are holding ADP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report).
Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.