Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Sold by Laird Norton Wetherby Wealth Management LLC

Laird Norton Wetherby Wealth Management LLC cut its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 15,515 shares of the business services provider’s stock after selling 425 shares during the quarter. Laird Norton Wetherby Wealth Management LLC’s holdings in Automatic Data Processing were worth $4,542,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the period. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth approximately $37,000. Banque de Luxembourg S.A. purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, May 1st. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Stifel Nicolaus lifted their price objective on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. TD Securities boosted their target price on Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $303.55.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the transaction, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This trade represents a 6.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,451 shares of company stock worth $743,024 in the last three months. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

ADP opened at $308.01 on Monday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The firm has a market cap of $125.03 billion, a price-to-earnings ratio of 32.12, a PEG ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $297.34 and a 200 day simple moving average of $299.31.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The company had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. During the same period in the prior year, the company posted $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 63.05%.

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.