Aviance Capital Partners LLC Sells 682 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Aviance Capital Partners LLC lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.0% during the 4th quarter, Holdings Channel reports. The firm owned 6,926 shares of the business services provider’s stock after selling 682 shares during the period. Aviance Capital Partners LLC’s holdings in Automatic Data Processing were worth $1,614,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Everhart Financial Group Inc. grew its stake in Automatic Data Processing by 20.1% during the third quarter. Everhart Financial Group Inc. now owns 1,584 shares of the business services provider’s stock valued at $381,000 after acquiring an additional 265 shares in the last quarter. Lindbrook Capital LLC boosted its holdings in shares of Automatic Data Processing by 7.5% during the 3rd quarter. Lindbrook Capital LLC now owns 2,002 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 140 shares during the last quarter. Verdence Capital Advisors LLC grew its position in shares of Automatic Data Processing by 7.5% during the third quarter. Verdence Capital Advisors LLC now owns 8,415 shares of the business services provider’s stock valued at $2,024,000 after purchasing an additional 585 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Automatic Data Processing by 9.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 152,241 shares of the business services provider’s stock worth $36,626,000 after purchasing an additional 13,594 shares during the last quarter. Finally, Pennsylvania Capital Management Inc. ADV lifted its position in shares of Automatic Data Processing by 31.8% in the third quarter. Pennsylvania Capital Management Inc. ADV now owns 2,677 shares of the business services provider’s stock worth $644,000 after buying an additional 646 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ ADP traded up $0.85 during midday trading on Monday, hitting $242.74. The company’s stock had a trading volume of 1,108,750 shares, compared to its average volume of 1,788,093. The business’s 50 day moving average is $245.41 and its two-hundred day moving average is $238.92. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84. 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 firm has a market cap of $99.35 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The business 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 business’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.52 earnings per share. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS 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 given a $1.40 dividend. The ex-dividend date 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 62.50%.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research analyst reports. JPMorgan Chase & Co. cut their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a report on Thursday. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. TD Cowen dropped their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday. Barclays upped their target price on shares of Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $255.42.

Insiders Place Their Bets

In related news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold 3,829 shares of company stock worth $965,274 in the last three months. Corporate insiders own 0.26% of the company’s stock.

About Automatic Data Processing

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.