MassMutual Private Wealth & Trust FSB Has $794,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

MassMutual Private Wealth & Trust FSB lessened its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,711 shares of the business services provider’s stock after selling 52 shares during the period. MassMutual Private Wealth & Trust FSB’s holdings in Automatic Data Processing were worth $794,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. AE Wealth Management LLC lifted its holdings in Automatic Data Processing by 28.5% in the second quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock valued at $2,258,000 after buying an additional 2,096 shares during the period. Thrivent Financial for Lutherans lifted its stake in shares of Automatic Data Processing by 3.8% in the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock valued at $28,826,000 after purchasing an additional 4,427 shares during the period. 1832 Asset Management L.P. boosted its position in shares of Automatic Data Processing by 1.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock valued at $9,713,000 after purchasing an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in Automatic Data Processing by 12.1% during the second quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock worth $516,000 after purchasing an additional 212 shares during the period. Finally, Public Sector Pension Investment Board increased its holdings in Automatic Data Processing by 71.0% in the second quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after purchasing an additional 6,439 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of research analyst reports. UBS Group increased their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Barclays raised their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Citigroup upped their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 in the last three months. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $298.15 on Wednesday. The firm’s fifty day moving average price is $297.69 and its two-hundred day moving average price is $281.01. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the prior year, the firm posted $2.08 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business 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. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

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.