Corient Private Wealth LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Corient Private Wealth LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 1.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 502,000 shares of the business services provider's stock after selling 6,810 shares during the quarter. Corient Private Wealth LLC owned about 0.12% of Automatic Data Processing worth $146,955,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Itau Unibanco Holding S.A. purchased a new position in Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC boosted its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing during the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, HHM Wealth Advisors LLC purchased a new position in Automatic Data Processing during the 4th quarter valued at about $41,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares of the company's stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 over the last quarter. Company insiders own 0.21% of the company's stock.

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Analysts Set New Price Targets

A number of brokerages recently commented on ADP. Jefferies Financial Group raised their target price 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 report on Wednesday, February 5th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. 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 report on Thursday, January 30th. Finally, UBS Group increased their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $296.18.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ ADP traded down $1.28 during midday trading on Thursday, hitting $297.51. 1,602,359 shares of the company's stock were exchanged, compared to its average volume of 1,455,600. 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, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The company has a market cap of $121.22 billion, a PE ratio of 31.02, a P/E/G ratio of 3.62 and a beta of 0.76. The firm's fifty day simple moving average is $302.80 and its 200-day simple moving average is $295.07.

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

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

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.