Pathway Financial Advisers LLC Sells 48,527 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pathway Financial Advisers LLC trimmed its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 99.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 177 shares of the business services provider's stock after selling 48,527 shares during the period. Pathway Financial Advisers LLC's holdings in Automatic Data Processing were worth $52,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its position in Automatic Data Processing by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider's stock valued at $1,278,000 after acquiring an additional 861 shares during the last quarter. Creative Planning lifted its position in Automatic Data Processing by 2.8% during the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider's stock worth $35,306,000 after acquiring an additional 3,456 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its position in Automatic Data Processing by 11.4% during the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,542 shares of the business services provider's stock worth $6,792,000 after acquiring an additional 2,504 shares during the period. Culbertson A N & Co. Inc. lifted its position in Automatic Data Processing by 3.5% during the 3rd quarter. Culbertson A N & Co. Inc. now owns 25,153 shares of the business services provider's stock worth $6,961,000 after acquiring an additional 859 shares during the period. Finally, Cornerstone Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $827,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 0.7 %

ADP stock traded down $2.07 during trading on Monday, reaching $308.15. The stock had a trading volume of 1,100,945 shares, compared to its average volume of 1,756,367. The firm has a fifty day moving average price of $297.56 and a 200 day moving average price of $288.77. The company has a market capitalization of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADP. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a research note on Tuesday, October 22nd. Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and a consensus target price of $293.55.

Insider Buying and Selling

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business'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 transaction, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company's stock.

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.