Simplicity Wealth LLC Sells 4,033 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Simplicity Wealth LLC reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 52.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,634 shares of the business services provider's stock after selling 4,033 shares during the quarter. Simplicity Wealth LLC's holdings in Automatic Data Processing were worth $1,064,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group raised their price objective 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. Finally, StockNews.com lowered 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 given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and an average price target of $296.18.

Remove Ads

Automatic Data Processing Trading Down 1.2 %

Shares of ADP traded down $3.63 during mid-day trading on Thursday, reaching $290.55. 2,061,672 shares of the company were exchanged, compared to its average volume of 1,506,012. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The stock has a market capitalization of $118.39 billion, a PE ratio of 30.30, a PEG ratio of 3.62 and a beta of 0.76. The business has a 50 day simple moving average of $302.30 and a two-hundred day simple moving average of $294.33.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts predict 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, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.12%. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction that occurred on 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. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of the firm's stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company's stock, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by corporate insiders.

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.