FRG Family Wealth Advisors LLC Sells 329 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

FRG Family Wealth Advisors LLC reduced its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,201 shares of the business services provider’s stock after selling 329 shares during the period. Automatic Data Processing accounts for approximately 1.3% of FRG Family Wealth Advisors LLC’s investment portfolio, making the stock its 18th biggest position. FRG Family Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $7,377,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of ADP. Norges Bank acquired a new stake in Automatic Data Processing in the 4th quarter valued at $455,993,000. Winslow Capital Management LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at about $396,714,000. Raymond James Financial Inc. bought a new stake in Automatic Data Processing in the 4th quarter valued at about $342,942,000. Proficio Capital Partners LLC grew its holdings in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after buying an additional 1,087,814 shares in the last quarter. Finally, Amundi grew its holdings in Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after buying an additional 449,431 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $302.30.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares in the company, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. 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 Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,364 shares of company stock worth $1,613,094. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $295.00 on Thursday. The business’s 50 day moving average price is $302.79 and its 200-day moving average price is $297.29. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84. 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 company has a market cap of $120.20 billion, a P/E ratio of 30.76, a P/E/G ratio of 3.62 and a beta of 0.74.

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

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.09%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 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.