Envestnet Asset Management Inc. Sells 43,669 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Envestnet Asset Management Inc. decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,630,566 shares of the business services provider’s stock after selling 43,669 shares during the period. Envestnet Asset Management Inc. owned 0.40% of Automatic Data Processing worth $477,315,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Integrated Wealth Concepts LLC raised its stake in Automatic Data Processing by 16.6% in the third quarter. Integrated Wealth Concepts LLC now owns 10,826 shares of the business services provider’s stock worth $2,996,000 after buying an additional 1,545 shares in the last quarter. Royal London Asset Management Ltd. raised its position in shares of Automatic Data Processing by 7.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 219,784 shares of the business services provider’s stock worth $60,821,000 after acquiring an additional 14,894 shares in the last quarter. SYM FINANCIAL Corp purchased a new position in shares of Automatic Data Processing in the 3rd quarter valued at approximately $206,000. Temasek Holdings Private Ltd boosted its position in shares of Automatic Data Processing by 14.7% during the third quarter. Temasek Holdings Private Ltd now owns 164,158 shares of the business services provider’s stock valued at $45,427,000 after purchasing an additional 21,005 shares in the last quarter. Finally, Wahed Invest LLC grew its stake in Automatic Data Processing by 7.9% in the third quarter. Wahed Invest LLC now owns 9,878 shares of the business services provider’s stock worth $2,734,000 after purchasing an additional 725 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the transaction, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. This trade represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated 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 approximately $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 6,368 shares of company stock valued at $1,903,541. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 6.3 %

Shares of NASDAQ:ADP opened at $286.13 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a market cap of $116.59 billion, a P/E ratio of 29.84, a PEG ratio of 3.62 and a beta of 0.74. The stock’s fifty day moving average price is $304.41 and its 200-day moving average price is $297.03.

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

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th were issued a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.15%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.