Mission Wealth Management LP Sells 542 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Mission Wealth Management LP reduced its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.7% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,549 shares of the business services provider’s stock after selling 542 shares during the quarter. Mission Wealth Management LP’s holdings in Automatic Data Processing were worth $2,306,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. AMG National Trust Bank increased its holdings in shares of Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after buying an additional 33 shares during the last quarter. Sentinus LLC raised its holdings in shares of Automatic Data Processing by 2.3% during the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider’s stock valued at $453,000 after buying an additional 35 shares in the last quarter. Rehmann Capital Advisory Group boosted its stake in Automatic Data Processing by 1.0% in the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock worth $1,079,000 after buying an additional 36 shares in the last quarter. Canton Hathaway LLC raised its stake in shares of Automatic Data Processing by 6.7% during the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider’s stock worth $174,000 after acquiring an additional 37 shares in the last quarter. Finally, Delta Financial Advisors LLC boosted its stake in shares of Automatic Data Processing by 0.3% in the 4th quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider’s stock valued at $4,266,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of several analyst reports. TD Securities upped their price target on shares of Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research report on Wednesday, May 21st. Mizuho upped their price objective on shares of Automatic Data Processing from $321.00 to $332.00 and gave the company an “outperform” rating in a research note on Friday. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, June 5th. UBS Group dropped their price target on Automatic Data Processing from $323.00 to $315.00 and set a “neutral” rating for the company in a research note on Friday. Finally, Stifel Nicolaus lifted their target price on shares of Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research note on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $306.82.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 1,500 shares of the firm’s stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. This trade represents a 11.05% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $293.14, for a total transaction of $140,120.92. Following the sale, the vice president now directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. This represents a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.21% of the stock is owned by insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $307.91 on Tuesday. The business has a fifty day moving average price of $308.69 and a 200-day moving average price of $302.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $124.99 billion, a PE ratio of 32.11, a PEG ratio of 3.62 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $329.93.

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

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio 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.