AdvisorNet Financial Inc Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

AdvisorNet Financial Inc lessened its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 8.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 993 shares of the business services provider’s stock after selling 88 shares during the period. AdvisorNet Financial Inc’s holdings in Automatic Data Processing were worth $291,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the second quarter valued at approximately $27,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the period. Hexagon Capital Partners LLC increased its position in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after acquiring an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were 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 of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The stock was 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 disclosure for this sale can be found here. In the last three months, insiders have sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

ADP opened at $296.23 on Friday. The company has a market capitalization of $120.70 billion, a P/E ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The company has a 50-day moving average of $298.24 and a 200-day moving average of $279.45. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) 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 firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the prior year, the firm posted $2.08 earnings per share. Automatic Data Processing’s revenue for the quarter was up 7.1% compared to the same quarter last year. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued 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 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADP. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Jefferies Financial Group increased their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $289.91.

View Our Latest Research Report on ADP

Automatic Data Processing Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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