Empower Advisory Group LLC Lowers Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Empower Advisory Group LLC lessened its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 82.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,612 shares of the business services provider’s stock after selling 30,862 shares during the period. Empower Advisory Group LLC’s holdings in Automatic Data Processing were worth $1,936,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. Community Financial Services Group LLC lifted its position in shares of Automatic Data Processing by 2.0% during the 3rd quarter. Community Financial Services Group LLC now owns 7,225 shares of the business services provider’s stock worth $1,999,000 after purchasing an additional 142 shares during the last quarter. Telos Capital Management Inc. raised its stake in Automatic Data Processing by 3.2% during the 3rd quarter. Telos Capital Management Inc. now owns 1,452 shares of the business services provider’s stock worth $402,000 after acquiring an additional 45 shares in the last quarter. Foundations Investment Advisors LLC raised its stake in Automatic Data Processing by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,529 shares of the business services provider’s stock worth $1,253,000 after acquiring an additional 126 shares in the last quarter. Home Federal Bank of Tennessee increased its stake in Automatic Data Processing by 1.4% in the third quarter. Home Federal Bank of Tennessee now owns 10,839 shares of the business services provider’s stock valued at $2,999,000 after purchasing an additional 150 shares during the period. Finally, Rodgers & Associates LTD acquired a new position in Automatic Data Processing in the third quarter valued at $223,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock valued at $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of recent research reports. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group lifted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Up 0.6 %

Shares of NASDAQ:ADP opened at $309.89 on Wednesday. The company has a market cap of $126.27 billion, a price-to-earnings ratio of 32.31, a PEG ratio of 3.60 and a beta of 0.79. The firm’s 50-day simple moving average is $297.77 and its 200-day simple moving average is $289.10. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.