Spire Wealth Management cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 4.9% during the 1st quarter, Holdings Channel.com reports. The firm owned 2,670 shares of the business services provider’s stock after selling 139 shares during the quarter. Spire Wealth Management’s holdings in Automatic Data Processing were worth $816,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Main Street Group LTD increased its holdings in shares of Automatic Data Processing by 50.7% in the 4th quarter. Main Street Group LTD now owns 113 shares of the business services provider’s stock valued at $33,000 after acquiring an additional 38 shares during the last quarter. Cyrus J. Lawrence LLC boosted its position in 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. Abound Wealth Management raised its stake in shares of Automatic Data Processing by 58.1% in the 1st quarter. Abound Wealth Management now owns 117 shares of the business services provider’s stock worth $36,000 after buying an additional 43 shares in the last quarter. Banque de Luxembourg S.A. bought a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. Finally, Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth $37,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.
Automatic Data Processing Price Performance
Automatic Data Processing stock opened at $303.45 on Friday. The business has a 50 day simple moving average of $310.53 and a 200 day simple moving average of $303.06. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $329.93. The company has a market capitalization of $123.18 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 3.14 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.
Automatic Data Processing Announces Dividend
The company also recently announced 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 of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a dividend yield of 2.03%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.
Analysts Set New Price Targets
A number of equities research analysts have recently issued reports on ADP shares. Morgan Stanley boosted their target price on Automatic Data Processing from $305.00 to $310.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 17th. 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 note on Thursday, June 5th. Stifel Nicolaus upped their price target on Automatic Data Processing to $305.00 and gave the stock a “buy” rating in a research note on Friday, May 2nd. UBS Group decreased 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, June 13th. Finally, TD Securities increased their target price on Automatic Data Processing from $298.00 to $321.00 and gave the company a “hold” rating in a research note on Wednesday, May 21st. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $307.08.
Check Out Our Latest Research Report on ADP
Insider Activity
In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business’s stock in a transaction dated 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 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Christopher D’ambrosio sold 478 shares of the business’s stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the transaction, the vice president now directly owns 7,364 shares of the company’s stock, valued at approximately $2,158,682.96. The trade was a 6.10% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company’s stock.
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.
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