Ropes Wealth Advisors LLC Sells 194 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ropes Wealth Advisors LLC lowered its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 31,848 shares of the business services provider’s stock after selling 194 shares during the quarter. Automatic Data Processing accounts for 1.1% of Ropes Wealth Advisors LLC’s portfolio, making the stock its 18th biggest position. Ropes Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $6,193,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in ADP. Almanack Investment Partners LLC. lifted its position in Automatic Data Processing by 20.2% in the fourth quarter. Almanack Investment Partners LLC. now owns 2,892 shares of the business services provider’s stock valued at $512,000 after purchasing an additional 487 shares during the last quarter. Baker Tilly Financial LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $436,000. Community Financial Services Group LLC lifted its position in Automatic Data Processing by 7.8% in the fourth quarter. Community Financial Services Group LLC now owns 3,141 shares of the business services provider’s stock valued at $553,000 after purchasing an additional 228 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in Automatic Data Processing by 45.3% in the fourth quarter. Daiwa Securities Group Inc. now owns 37,438 shares of the business services provider’s stock valued at $6,597,000 after purchasing an additional 11,666 shares during the last quarter. Finally, Maryland State Retirement & Pension System bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $1,170,000. Hedge funds and other institutional investors own 79.29% of the company’s stock.

Several brokerages have weighed in on ADP. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price objective on Automatic Data Processing from $190.00 to $212.00 and gave the company a “buy” rating in a research report on Monday, May 3rd. Morgan Stanley boosted their target price on Automatic Data Processing from $171.00 to $185.00 and gave the company an “equal weight” rating in a research note on Thursday, April 29th. Mizuho boosted their target price on Automatic Data Processing from $210.00 to $220.00 and gave the company a “buy” rating in a research note on Thursday, May 27th. They noted that the move was a valuation call. Barclays boosted their target price on Automatic Data Processing from $197.00 to $212.00 and gave the company an “overweight” rating in a research note on Monday, May 3rd. Finally, Citigroup upped their price target on Automatic Data Processing from $190.00 to $212.00 in a research note on Monday, May 3rd. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $177.81.

ADP traded down $0.32 during midday trading on Friday, reaching $199.74. The company had a trading volume of 5,007 shares, compared to its average volume of 1,916,466. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 0.35. The company’s 50-day moving average price is $193.55. The firm has a market capitalization of $84.99 billion, a P/E ratio of 34.64, a P/E/G ratio of 2.76 and a beta of 0.71. Automatic Data Processing, Inc. has a 1 year low of $127.31 and a 1 year high of $200.51.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Tuesday, April 27th. The business services provider reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.07. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.08 billion. Automatic Data Processing had a return on equity of 44.23% and a net margin of 16.88%. The business’s quarterly revenue was up 1.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.92 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 5.95 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 1st. Shareholders of record on Friday, June 11th will be given a $0.93 dividend. This represents a $3.72 dividend on an annualized basis and a yield of 1.86%. The ex-dividend date is Thursday, June 10th. Automatic Data Processing’s payout ratio is 62.84%.

In related news, VP Deborah L. Dyson sold 500 shares of the stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $188.72, for a total transaction of $94,360.00. Following the completion of the sale, the vice president now owns 24,686 shares in the company, valued at $4,658,741.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Sreenivasa Kutam sold 4,583 shares of the stock in a transaction dated Wednesday, June 9th. The stock was sold at an average price of $200.00, for a total value of $916,600.00. Following the sale, the vice president now owns 5,041 shares of the company’s stock, valued at approximately $1,008,200. The disclosure for this sale can be found here. In the last 90 days, insiders sold 6,975 shares of company stock valued at $1,374,522. Company insiders own 0.34% of the company’s stock.

Automatic Data Processing Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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

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