Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Connectus Wealth LLC

Connectus Wealth LLC trimmed its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 6.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,016 shares of the business services provider’s stock after selling 390 shares during the quarter. Connectus Wealth LLC’s holdings in Automatic Data Processing were worth $1,402,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Alliance Wealth Advisors LLC UT lifted its holdings in shares of Automatic Data Processing by 3.1% in the 3rd quarter. Alliance Wealth Advisors LLC UT now owns 12,808 shares of the business services provider’s stock valued at $3,081,000 after purchasing an additional 389 shares during the last quarter. Valley Wealth Managers Inc. increased its position in Automatic Data Processing by 4.9% during the 3rd quarter. Valley Wealth Managers Inc. now owns 1,102 shares of the business services provider’s stock worth $265,000 after purchasing an additional 51 shares during the period. Cornerstone Advisors LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $4,138,000. Catalyst Capital Advisors LLC increased its position in Automatic Data Processing by 34.2% during the 3rd quarter. Catalyst Capital Advisors LLC now owns 306 shares of the business services provider’s stock worth $74,000 after purchasing an additional 78 shares during the period. Finally, First National Advisers LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $309,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Down 2.2 %

Shares of NASDAQ ADP opened at $246.87 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. The company has a market cap of $101.04 billion, a P/E ratio of 27.55, a P/E/G ratio of 2.77 and a beta of 0.78. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The stock has a fifty day moving average price of $245.94 and a 200 day moving average price of $242.64.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The firm had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The firm’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.52 EPS. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.17 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADP. Evercore ISI boosted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. TD Cowen lowered their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. JPMorgan Chase & Co. lowered their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday, May 2nd. Barclays upped their price target on Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Finally, Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus price target of $255.42.

Read Our Latest Analysis on Automatic Data Processing

About Automatic Data Processing

(Free Report)

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.

See Also

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

Receive News & Ratings for Automatic Data Processing Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Automatic Data Processing and related companies with MarketBeat.com's FREE daily email newsletter.