Venturi Wealth Management LLC Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Venturi Wealth Management LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,979 shares of the business services provider’s stock after selling 1,763 shares during the quarter. Venturi Wealth Management LLC’s holdings in Automatic Data Processing were worth $1,995,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Amundi acquired a new stake in Automatic Data Processing during the 2nd quarter worth $449,404,000. Vanguard Group Inc. boosted its stake in Automatic Data Processing by 2.1% during the 2nd quarter. Vanguard Group Inc. now owns 37,963,373 shares of the business services provider’s stock worth $7,540,285,000 after purchasing an additional 769,762 shares during the last quarter. Liberty Wealth Management LLC boosted its stake in Automatic Data Processing by 19,774.4% during the 2nd quarter. Liberty Wealth Management LLC now owns 694,809 shares of the business services provider’s stock worth $3,498,000 after purchasing an additional 691,313 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Automatic Data Processing by 11.1% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 5,546,626 shares of the business services provider’s stock worth $1,101,671,000 after purchasing an additional 555,431 shares during the last quarter. Finally, UBS Asset Management Americas Inc. boosted its stake in Automatic Data Processing by 26.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 2,575,328 shares of the business services provider’s stock worth $511,512,000 after purchasing an additional 543,004 shares during the last quarter. 78.32% of the stock is owned by institutional investors.

Shares of ADP opened at $228.75 on Friday. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.56. The firm has a market cap of $96.39 billion, a P/E ratio of 36.19, a price-to-earnings-growth ratio of 2.89 and a beta of 0.75. The company’s 50-day moving average price is $235.53 and its 200 day moving average price is $217.57. Automatic Data Processing, Inc. has a 12-month low of $159.31 and a 12-month high of $248.96.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Tuesday, October 26th. The business services provider reported $1.65 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.49 by $0.16. The company had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.75 billion. Automatic Data Processing had a net margin of 17.55% and a return on equity of 47.31%. The business’s revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.41 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 6.77 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 1st. Shareholders of record on Friday, March 11th will be paid a dividend of $1.04 per share. The ex-dividend date of this dividend is Thursday, March 10th. This represents a $4.16 dividend on an annualized basis and a yield of 1.82%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.82%.

In related news, VP Deborah L. Dyson sold 2,161 shares of the company’s stock in a transaction that occurred on Wednesday, January 12th. The shares were sold at an average price of $235.13, for a total transaction of $508,115.93. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carlos A. Rodriguez sold 35,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 7th. The stock was sold at an average price of $234.63, for a total transaction of $8,212,050.00. The disclosure for this sale can be found here. Insiders have sold 124,928 shares of company stock worth $28,959,765 over the last quarter. Insiders own 0.34% of the company’s stock.

Several equities research analysts have issued reports on ADP shares. Morgan Stanley lifted their target price on shares of Automatic Data Processing from $215.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Tuesday, November 16th. BMO Capital Markets boosted their price target on shares of Automatic Data Processing from $208.00 to $220.00 and gave the company a “market perform” rating in a research report on Thursday, October 28th. Mizuho boosted their price target on shares of Automatic Data Processing from $230.00 to $245.00 and gave the company a “buy” rating in a research report on Tuesday, November 2nd. Zacks Investment Research raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating and set a $241.00 price target on the stock in a research report on Tuesday, December 21st. Finally, Robert W. Baird boosted their price target on shares of Automatic Data Processing from $228.00 to $242.00 and gave the company a “neutral” rating in a research report on Tuesday, November 16th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $231.46.

Automatic Data Processing Profile

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializes in cloud-based human capital management. It operates through the following business segments: Employer Services; and Professional Employer Organization Services; and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.

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

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