Envestnet Portfolio Solutions Inc. Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Envestnet Portfolio Solutions Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 7.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,725 shares of the business services provider's stock after selling 1,863 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Automatic Data Processing were worth $6,945,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Claro Advisors LLC lifted its position in shares of Automatic Data Processing by 42.0% in the 3rd quarter. Claro Advisors LLC now owns 1,315 shares of the business services provider's stock worth $364,000 after purchasing an additional 389 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Automatic Data Processing by 4.2% in the third quarter. Thrivent Financial for Lutherans now owns 125,845 shares of the business services provider's stock worth $34,834,000 after buying an additional 5,076 shares during the period. MAI Capital Management boosted its position in Automatic Data Processing by 118.0% during the 3rd quarter. MAI Capital Management now owns 36,818 shares of the business services provider's stock valued at $10,189,000 after acquiring an additional 19,926 shares in the last quarter. Quest Partners LLC grew its holdings in shares of Automatic Data Processing by 2,248.7% during the 3rd quarter. Quest Partners LLC now owns 3,711 shares of the business services provider's stock worth $1,027,000 after acquiring an additional 3,553 shares during the period. Finally, Richard C. Young & CO. LTD. grew its holdings in shares of Automatic Data Processing by 0.3% during the 3rd quarter. Richard C. Young & CO. LTD. now owns 74,255 shares of the business services provider's stock worth $20,549,000 after acquiring an additional 258 shares during the period. Hedge funds and other institutional investors own 80.03% of the company's stock.

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Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock traded down $2.19 during trading on Friday, hitting $295.32. 3,951,110 shares of the company's stock traded hands, compared to its average volume of 1,462,870. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The business has a 50-day simple moving average of $302.91 and a 200-day simple moving average of $295.08. The stock has a market capitalization of $120.33 billion, a P/E ratio of 30.79, a PEG ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.09%. Automatic Data Processing's payout ratio is 64.23%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ADP. UBS Group raised their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $296.18.

Insider Activity

In related news, CEO Maria Black sold 721 shares of Automatic Data Processing 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 directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company's stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 in the last quarter. 0.21% of the stock is currently owned by insiders.

About Automatic Data Processing

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.