TCV Trust & Wealth Management Inc. Sells 1,642 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

TCV Trust & Wealth Management Inc. lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 61,387 shares of the business services provider's stock after selling 1,642 shares during the quarter. Automatic Data Processing comprises about 1.7% of TCV Trust & Wealth Management Inc.'s portfolio, making the stock its 16th biggest holding. TCV Trust & Wealth Management Inc.'s holdings in Automatic Data Processing were worth $17,970,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter worth about $26,000. Dunhill Financial LLC lifted its holdings in Automatic Data Processing by 346.5% in 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 last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Insider Activity

In related news, 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 transaction, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last 90 days. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on ADP shares. UBS Group upped their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Finally, TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a report on Friday, November 1st. Two 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. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $293.55.

Automatic Data Processing Trading Down 0.7 %

ADP stock traded down $2.07 during mid-day trading on Friday, reaching $308.15. 1,100,945 shares of the stock traded hands, compared to its average volume of 1,756,367. The company has a market cap of $125.56 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week 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. The stock's fifty day moving average is $297.56 and its 200-day moving average is $288.37.

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, beating 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%. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

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.