Evelyn Partners Asset Management Ltd lowered its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 8.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,441 shares of the business services provider’s stock after selling 3,224 shares during the period. Automatic Data Processing makes up 2.1% of Evelyn Partners Asset Management Ltd’s investment portfolio, making the stock its 14th largest holding. Evelyn Partners Asset Management Ltd’s holdings in Automatic Data Processing were worth $9,116,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Imprint Wealth LLC bought a new stake in Automatic Data Processing during the third quarter worth about $25,000. Y.D. More Investments Ltd bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $32,000. Bard Associates Inc. bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $28,000. Board of the Pension Protection Fund bought a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $31,000. Finally, AlphaQuest LLC bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $38,000. Institutional investors own 80.03% of the company’s stock.
Automatic Data Processing Trading Up 0.2%
Shares of NASDAQ ADP opened at $226.21 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.04 and a current ratio of 1.04. The firm’s 50 day moving average price is $212.58 and its 200-day moving average price is $229.36. Automatic Data Processing, Inc. has a 52-week low of $188.16 and a 52-week high of $315.98. The company has a market cap of $90.42 billion, a PE ratio of 21.10 and a beta of 0.84.
Automatic Data Processing Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 1st. Stockholders of record on Friday, June 12th will be issued a dividend of $1.70 per share. This represents a $6.80 annualized dividend and a dividend yield of 3.0%. The ex-dividend date of this dividend is Friday, June 12th. Automatic Data Processing’s payout ratio is presently 63.43%.
Insider Buying and Selling at Automatic Data Processing
In other news, VP Christopher D’ambrosio sold 543 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $208.45, for a total transaction of $113,188.35. Following the completion of the transaction, the vice president directly owned 8,912 shares of the company’s stock, valued at $1,857,706.40. The trade was a 5.74% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is owned by insiders.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on ADP shares. Robert W. Baird dropped their target price on shares of Automatic Data Processing from $300.00 to $270.00 in a research note on Thursday, April 30th. Guggenheim started coverage on shares of Automatic Data Processing in a research note on Thursday, March 19th. They issued a “buy” rating and a $270.00 target price on the stock. Morgan Stanley dropped their target price on shares of Automatic Data Processing from $311.00 to $274.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 28th. Citigroup dropped their target price on shares of Automatic Data Processing from $265.00 to $230.00 and set a “neutral” rating on the stock in a research note on Thursday, April 30th. Finally, BMO Capital Markets dropped their target price on shares of Automatic Data Processing from $281.00 to $234.00 and set a “market perform” rating on the stock in a research note on Tuesday, April 7th. One investment analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $244.29.
Get Our Latest Research Report on ADP
About Automatic Data Processing
Automatic Data Processing, Inc (ADP) is a global provider of cloud-based human capital management (HCM) and payroll solutions. Founded in 1949 and headquartered in Roseland, New Jersey, ADP began as a payroll processing company and has evolved into a diversified provider of workforce management, HR, benefits administration, tax and compliance services, and analytics for employers of all sizes.
ADP’s product portfolio includes payroll processing and tax filing, time and attendance systems, benefits administration, talent management, and HR outsourcing.
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