Envestnet Asset Management Inc. Has $477.32 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Envestnet Asset Management Inc. lowered its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,630,566 shares of the business services provider's stock after selling 43,669 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.40% of Automatic Data Processing worth $477,315,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Dunhill Financial LLC increased its holdings in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC raised its position in shares of Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in Automatic Data Processing during the 4th quarter worth about $41,000. 80.03% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ADP shares. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated 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. Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and an average target price of $302.30.

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Automatic Data Processing Stock Down 1.0 %

ADP traded down $2.96 during trading on Thursday, hitting $291.73. The company had a trading volume of 1,533,806 shares, compared to its average volume of 1,658,473. The company has a market capitalization of $118.87 billion, a PE ratio of 30.22, a PEG ratio of 3.62 and a beta of 0.74. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm's 50-day moving average price is $302.79 and its 200 day moving average price is $297.29.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data 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%. As a group, equities analysts expect 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 announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. Automatic Data Processing's dividend payout ratio is currently 64.23%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 473 shares of the business's stock in a transaction dated 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 sale, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,364 shares of company stock worth $1,613,094. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Company 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.