Hennion & Walsh Asset Management Inc. Reduces Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Hennion & Walsh Asset Management Inc. cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 46.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,072 shares of the business services provider's stock after selling 6,160 shares during the quarter. Hennion & Walsh Asset Management Inc.'s holdings in Automatic Data Processing were worth $2,070,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. State Street Corp raised its holdings in shares of Automatic Data Processing by 2.4% during the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider's stock valued at $5,098,541,000 after buying an additional 424,328 shares in the last quarter. Geode Capital Management LLC raised its stake in shares of Automatic Data Processing by 2.8% during the third quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider's stock worth $2,906,257,000 after acquiring an additional 286,080 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider's stock worth $964,989,000 after acquiring an additional 435,093 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Automatic Data Processing by 4.1% in the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider's stock valued at $846,912,000 after purchasing an additional 139,561 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Automatic Data Processing by 1.3% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider's stock valued at $896,197,000 after purchasing an additional 41,709 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Automatic Data Processing Trading Down 0.0 %

Shares of NASDAQ:ADP traded down $0.05 on Friday, hitting $296.18. The company had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm's 50-day simple moving average is $297.90 and its two-hundred day simple moving average is $279.99. The firm has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.77 billion. During the same period in the previous year, the firm posted $2.08 EPS. The business's revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing's payout ratio is 65.74%.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the firm's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last three months. Company insiders own 0.21% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on ADP. Royal Bank of Canada boosted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. UBS Group boosted their target price 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. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Saturday, January 11th. Finally, Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research note on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $289.91.

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.