Tranquility Partners LLC Cuts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Tranquility Partners LLC lessened its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,353 shares of the business services provider’s stock after selling 278 shares during the period. Tranquility Partners LLC’s holdings in Automatic Data Processing were worth $1,014,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Ardent Capital Management Inc. purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at $392,000. Americana Partners LLC boosted its stake in shares of Automatic Data Processing by 3.1% in the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares in the last quarter. Everence Capital Management Inc. boosted its stake in shares of Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after purchasing an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in shares of Automatic Data Processing in the 4th quarter valued at $1,635,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the transaction, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at $2,071,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ADP. 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. Evercore ISI upped their price target on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Mizuho upped their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Trading Down 0.5 %

NASDAQ ADP traded down $1.31 during trading on Wednesday, hitting $242.90. The company had a trading volume of 1,126,134 shares, compared to its average volume of 1,824,087. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a market cap of $99.78 billion, a price-to-earnings ratio of 28.43, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. The company’s fifty day moving average is $247.69 and its 200-day moving average is $239.16.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. During the same period in the prior year, the business earned $1.96 EPS. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.31%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.