Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Mission Wealth Management LP

Mission Wealth Management LP decreased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,091 shares of the business services provider’s stock after selling 163 shares during the quarter. Mission Wealth Management LP’s holdings in Automatic Data Processing were worth $2,369,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $26,000. Dunhill Financial LLC boosted its holdings 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the third quarter valued at $35,000. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at $37,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares in the company, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 1.1 %

Shares of ADP opened at $318.64 on Tuesday. The firm’s fifty day moving average is $301.15 and its two-hundred day moving average is $292.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market cap of $129.83 billion, a PE ratio of 33.23, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $320.50.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.93%. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADP shares. Barclays raised their target price 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 reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group upped their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Mizuho lifted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two investment 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’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $293.55.

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.