Global Retirement Partners LLC Lowers Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Global Retirement Partners LLC lessened its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 38.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,854 shares of the business services provider’s stock after selling 3,001 shares during the quarter. Global Retirement Partners LLC’s holdings in Automatic Data Processing were worth $1,421,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Moloney Securities Asset Management LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth $209,000. Littlejohn Financial Services Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at $708,000. Nomura Asset Management Co. Ltd. grew its stake in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after purchasing an additional 15,340 shares in the last quarter. RIA Advisory Group LLC purchased a new stake in Automatic Data Processing during the 3rd quarter worth about $470,000. Finally, Dash Acquisitions Inc. raised its position in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 in the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $310.76 on Friday. The stock’s 50-day moving average is $298.72 and its two-hundred day moving average is $290.11. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The firm has a market cap of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.65 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping 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%. Analysts predict 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 of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

Analysts Set New Price Targets

ADP has been the subject of a number of analyst reports. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group boosted their price target 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. 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 note on Friday, November 1st. Finally, Mizuho increased their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target 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.