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

Loring Wolcott & Coolidge Fiduciary Advisors LLP MA reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 4th quarter, Holdings Channel.com reports. The firm owned 666,901 shares of the business services provider’s stock after selling 6,944 shares during the quarter. Automatic Data Processing accounts for 1.6% of Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings, making the stock its 23rd largest holding. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA’s holdings in Automatic Data Processing were worth $163,911,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently modified their holdings of the company. Heritage Investment Group Inc. boosted its holdings in Automatic Data Processing by 1.9% in the fourth quarter. Heritage Investment Group Inc. now owns 2,201 shares of the business services provider’s stock worth $513,000 after purchasing an additional 41 shares during the period. Argus Investors Counsel Inc. lifted its stake in Automatic Data Processing by 0.5% in the fourth quarter. Argus Investors Counsel Inc. now owns 8,863 shares of the business services provider’s stock valued at $2,065,000 after buying an additional 43 shares during the last quarter. Trust Co. of Toledo NA OH lifted its stake in Automatic Data Processing by 0.5% in the third quarter. Trust Co. of Toledo NA OH now owns 8,292 shares of the business services provider’s stock valued at $1,995,000 after buying an additional 45 shares during the last quarter. Schechter Investment Advisors LLC lifted its stake in Automatic Data Processing by 1.1% in the third quarter. Schechter Investment Advisors LLC now owns 4,151 shares of the business services provider’s stock valued at $999,000 after buying an additional 46 shares during the last quarter. Finally, Simon Quick Advisors LLC lifted its stake in Automatic Data Processing by 1.0% in the fourth quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock valued at $1,067,000 after buying an additional 47 shares during the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent analyst reports. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Mizuho boosted 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 report on Monday, March 11th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $254.58.

Automatic Data Processing Trading Up 1.2 %

ADP traded up $3.00 during trading on Monday, reaching $246.31. The company had a trading volume of 1,328,983 shares, compared to its average volume of 1,810,447. The firm’s 50-day simple moving average is $247.15 and its 200 day simple moving average is $239.21. The company has a market cap of $101.18 billion, a price-to-earnings ratio of 28.67, a PEG ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

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

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing 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 transaction, the vice president now owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, VP Joseph Desilva sold 1,904 shares of Automatic Data Processing 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 in the company, valued at approximately $4,380,645. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing 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 sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock valued at $3,741,859 in the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

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.