Avior Wealth Management LLC Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Avior Wealth Management LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,450 shares of the business services provider’s stock after selling 482 shares during the period. Avior Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,366,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. OFI Invest Asset Management bought a new stake in shares of Automatic Data Processing in the third quarter worth about $25,000. Coppell Advisory Solutions LLC bought a new stake in shares of Automatic Data Processing in the second quarter worth about $30,000. Strategic Investment Solutions Inc. IL bought a new stake in shares of Automatic Data Processing in the first quarter worth about $31,000. Coppell Advisory Solutions Corp. bought a new stake in shares of Automatic Data Processing in the fourth quarter worth about $33,000. Finally, Fortitude Family Office LLC bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $35,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 0.2 %

ADP opened at $244.62 on Wednesday. The stock has a market cap of $100.49 billion, a price-to-earnings ratio of 28.43, a P/E/G ratio of 2.29 and a beta of 0.78. The stock’s 50 day moving average price is $247.69 and its 200-day moving average price is $239.16. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the prior year, the firm earned $1.96 earnings per share. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a yield of 2.29%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.19%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on ADP. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Finally, Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $254.58.

Insider Buying and Selling

In related news, VP David Kwon sold 863 shares of the stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP David Kwon sold 863 shares of the stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock valued at $3,741,859 over the last quarter. 0.26% of the stock is owned by corporate insiders.

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.