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

Laird Norton Wetherby Wealth Management LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 15,515 shares of the business services provider’s stock after selling 425 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,542,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Harbor Capital Advisors Inc. increased its stake in shares of Automatic Data Processing by 2.6% in the fourth quarter. Harbor Capital Advisors Inc. now owns 4,777 shares of the business services provider’s stock valued at $1,398,000 after purchasing an additional 120 shares during the period. Czech National Bank grew its holdings in Automatic Data Processing by 6.3% in the 4th quarter. Czech National Bank now owns 88,345 shares of the business services provider’s stock worth $25,861,000 after buying an additional 5,273 shares in the last quarter. Aprio Wealth Management LLC grew its holdings in Automatic Data Processing by 66.8% in the 4th quarter. Aprio Wealth Management LLC now owns 1,436 shares of the business services provider’s stock worth $420,000 after buying an additional 575 shares in the last quarter. Clark & Stuart Inc acquired a new stake in Automatic Data Processing in the 4th quarter valued at approximately $845,000. Finally, Kieckhefer Group LLC bought a new stake in Automatic Data Processing during the 4th quarter valued at $42,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In other news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock valued at $743,024 in the last three months. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $308.01 on Monday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average of $297.34 and a two-hundred day moving average of $299.31. The company has a market capitalization of $125.03 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business’s quarterly revenue was up 5.7% on a year-over-year basis. During the same period in the prior year, the business earned $2.88 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s dividend payout ratio is presently 63.05%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ADP. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group upped their price objective 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 raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. TD Securities boosted their price target on shares of Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a research report on Thursday, May 1st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $303.55.

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.