Envestnet Asset Management Inc. Sells 43,669 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Envestnet Asset Management Inc. cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,630,566 shares of the business services provider’s stock after selling 43,669 shares during the period. Envestnet Asset Management Inc.’s holdings in Automatic Data Processing were worth $477,315,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Aviva PLC lifted its holdings in shares of Automatic Data Processing by 2.8% in the fourth quarter. Aviva PLC now owns 962,810 shares of the business services provider’s stock worth $281,843,000 after buying an additional 26,141 shares in the last quarter. Resona Asset Management Co. Ltd. purchased a new stake in Automatic Data Processing in the 4th quarter worth $38,497,000. Broderick Brian C boosted its holdings in shares of Automatic Data Processing by 1.9% during the 4th quarter. Broderick Brian C now owns 58,200 shares of the business services provider’s stock valued at $17,037,000 after purchasing an additional 1,082 shares during the last quarter. Wescott Financial Advisory Group LLC increased its holdings in shares of Automatic Data Processing by 5.4% in the fourth quarter. Wescott Financial Advisory Group LLC now owns 1,734 shares of the business services provider’s stock worth $508,000 after purchasing an additional 89 shares during the last quarter. Finally, World Investment Advisors lifted its position in shares of Automatic Data Processing by 16.9% in the fourth quarter. World Investment Advisors now owns 8,730 shares of the business services provider’s stock worth $2,555,000 after buying an additional 1,264 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 6.3 %

Shares of NASDAQ:ADP opened at $286.13 on Friday. The firm has a market capitalization of $116.59 billion, a PE ratio of 29.84, a price-to-earnings-growth ratio of 3.62 and a beta of 0.74. The business has a 50 day simple moving average of $304.41 and a two-hundred day simple moving average of $297.03. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.15%. The ex-dividend date was Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated 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 sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares in the company, valued at approximately $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 6,368 shares of company stock worth $1,903,541 in the last 90 days. 0.21% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has 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 data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $302.30.

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.