Gitterman Wealth Management LLC Has $211,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Gitterman Wealth Management LLC trimmed its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 11.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 716 shares of the business services provider’s stock after selling 97 shares during the period. Gitterman Wealth Management LLC’s holdings in Automatic Data Processing were worth $211,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of ADP. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the 3rd quarter worth $26,000. Dunhill Financial LLC lifted its holdings in shares of 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 last quarter. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth about $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Barclays raised their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. UBS Group lifted their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $296.18.

Automatic Data Processing Stock Up 0.4 %

Automatic Data Processing stock opened at $291.76 on Friday. The firm’s fifty day moving average is $302.32 and its 200 day moving average is $294.58. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company has a market capitalization of $118.88 billion, a PE ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. 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 (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. As a group, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.