Atria Wealth Solutions Inc. Decreases Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Atria Wealth Solutions Inc. reduced its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 40.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 23,287 shares of the business services provider’s stock after selling 15,555 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Automatic Data Processing were worth $6,847,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the 3rd quarter worth about $26,000. Dunhill Financial LLC raised its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the 3rd quarter worth about $35,000. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth about $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, TD Cowen raised their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $293.55.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $313.22 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average price is $298.18 and its 200-day moving average price is $289.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. The company has a market cap of $127.62 billion, a PE ratio of 32.66, a P/E/G ratio of 3.59 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.97%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

Automatic Data Processing 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.