Epic Trust Investment Advisors LLC Sells 58 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Epic Trust Investment Advisors LLC trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 883 shares of the business services provider’s stock after selling 58 shares during the period. Epic Trust Investment Advisors LLC’s holdings in Automatic Data Processing were worth $206,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ADP. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at about $35,000. Evolution Advisers Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth about $41,000. Raleigh Capital Management Inc. grew its stake in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Finally, Bfsg LLC purchased a new stake in Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ADP has been the subject of several research reports. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Mizuho raised their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. 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 report on Tuesday, March 26th. Finally, Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $258.36.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $1.79 during trading on Tuesday, hitting $242.16. 1,120,297 shares of the stock were exchanged, compared to its average volume of 1,774,410. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year 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. The company has a market capitalization of $99.48 billion, a price-to-earnings ratio of 28.24, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The company’s fifty day simple moving average is $246.51 and its 200-day simple moving average is $239.10.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results 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 return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the business earned $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

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 transaction of $90,899.68. Following the completion of the transaction, the vice president now directly 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 Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the transaction, the vice president now directly owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at approximately $4,380,645. 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 over the last 90 days. 0.26% of the stock is owned by corporate insiders.

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.