Wellington Wealth Strategies LLC. Cuts Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wellington Wealth Strategies LLC. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,220 shares of the business services provider’s stock after selling 1,040 shares during the quarter. Automatic Data Processing accounts for approximately 1.5% of Wellington Wealth Strategies LLC.’s portfolio, making the stock its 22nd largest position. Wellington Wealth Strategies LLC.’s holdings in Automatic Data Processing were worth $1,619,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. AMG National Trust Bank grew its holdings in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares in the last quarter. Sentinus LLC grew its holdings in shares of Automatic Data Processing by 2.3% during the fourth quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock worth $453,000 after purchasing an additional 35 shares in the last quarter. Aspiriant LLC grew its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after purchasing an additional 36 shares in the last quarter. Finally, Rehmann Capital Advisory Group grew its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after purchasing an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $322.96 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $328.00. The stock has a 50 day moving average price of $298.87 and a two-hundred day moving average price of $300.38. The company has a market capitalization of $131.10 billion, a P/E ratio of 33.68, a PEG ratio of 3.62 and a beta of 0.76.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be given a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.91%. Automatic Data Processing’s payout ratio is currently 63.05%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction that occurred on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 2,451 shares of company stock worth $743,024. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

ADP has been the subject of several recent analyst reports. Jefferies Financial Group boosted their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, May 1st. 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 research report on Thursday, May 1st. Barclays boosted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Finally, Stifel Nicolaus boosted their target price on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research report on Friday, May 2nd. One 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 company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $303.55.

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.