Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Loring Wolcott & Coolidge Fiduciary Advisors LLP MA

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA cut its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 666,901 shares of the business services provider’s stock after selling 6,944 shares during the period. Automatic Data Processing comprises about 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 23rd biggest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA owned 0.16% of Automatic Data Processing worth $163,911,000 as of its most recent filing with the SEC.

A number of other large investors also recently added to or reduced their stakes in the stock. Larson Financial Group LLC raised its position in Automatic Data Processing by 43.4% during the fourth quarter. Larson Financial Group LLC now owns 525 shares of the business services provider’s stock worth $122,000 after acquiring an additional 159 shares during the period. RWA Wealth Partners LLC raised its position in Automatic Data Processing by 1,353.1% during the fourth quarter. RWA Wealth Partners LLC now owns 42,678 shares of the business services provider’s stock worth $9,943,000 after acquiring an additional 39,741 shares during the period. Sage Mountain Advisors LLC grew its holdings in shares of Automatic Data Processing by 9.1% during the fourth quarter. Sage Mountain Advisors LLC now owns 2,034 shares of the business services provider’s stock worth $474,000 after buying an additional 169 shares in the last quarter. Duality Advisers LP purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $1,513,000. Finally, MCF Advisors LLC raised its position in shares of Automatic Data Processing by 6.6% in the fourth quarter. MCF Advisors LLC now owns 2,781 shares of the business services provider’s stock valued at $652,000 after buying an additional 173 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ADP shares. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI raised their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Mizuho raised their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Stock Up 1.2 %

Shares of ADP stock traded up $3.00 during trading on Monday, reaching $246.31. The company’s stock had a trading volume of 1,328,983 shares, compared to its average volume of 1,810,447. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $101.18 billion, a price-to-earnings ratio of 28.67, a P/E/G ratio of 2.29 and a beta of 0.78. The stock’s 50-day moving average price is $247.15 and its 200 day moving average price is $239.21. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.96 earnings per share. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.27%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock worth $3,741,859 in the last 90 days. Corporate insiders own 0.26% of the company’s stock.

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.