Automatic Data Processing (ADP) Shares Sold by River Wealth Advisors LLC

River Wealth Advisors LLC lowered its stake in shares of Automatic Data Processing (NASDAQ:ADP) by 5.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,805 shares of the business services provider’s stock after selling 521 shares during the period. River Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,149,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Legacy Advisors LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $103,000. Calton & Associates Inc. purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $118,000. Acrospire Investment Management LLC purchased a new stake in shares of Automatic Data Processing in the second quarter valued at about $102,000. Wealthcare Advisory Partners LLC purchased a new stake in shares of Automatic Data Processing in the third quarter valued at about $114,000. Finally, Cerebellum GP LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter valued at about $129,000. 78.55% of the stock is currently owned by hedge funds and other institutional investors.

In related news, insider Michael A. Bonarti sold 3,900 shares of the company’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $116.03, for a total transaction of $452,517.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carlos A. Rodriguez sold 69,899 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $112.29, for a total transaction of $7,848,958.71. Following the transaction, the chief executive officer now directly owns 161,085 shares of the company’s stock, valued at approximately $18,088,234.65. The disclosure for this sale can be found here. Insiders have sold 219,666 shares of company stock valued at $25,650,681 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Automatic Data Processing (NASDAQ:ADP) opened at $116.18 on Friday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 1.06. The firm has a market cap of $51,499.11, a P/E ratio of 30.18, a PEG ratio of 2.53 and a beta of 0.86. Automatic Data Processing has a 52-week low of $95.50 and a 52-week high of $125.24.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.89 by $0.10. Automatic Data Processing had a net margin of 13.47% and a return on equity of 43.28%. The business had revenue of $3.24 billion during the quarter, compared to analyst estimates of $3.18 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The company’s revenue was up 8.3% on a year-over-year basis. analysts forecast that Automatic Data Processing will post 4.17 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 1st. Investors of record on Friday, March 9th will be given a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a yield of 2.17%. The ex-dividend date is Thursday, March 8th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.45%.

Several analysts have issued reports on the stock. Stifel Nicolaus upped their price target on shares of Automatic Data Processing from $113.00 to $133.00 and gave the company a “hold” rating in a report on Thursday, February 1st. Zacks Investment Research lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Barclays boosted their price objective on shares of Automatic Data Processing from $121.00 to $128.00 and gave the company an “equal weight” rating in a research report on Thursday, February 1st. BMO Capital Markets cut their price objective on shares of Automatic Data Processing from $122.00 to $121.00 and set an “outperform” rating for the company in a research report on Thursday, February 1st. Finally, BidaskClub lowered shares of Automatic Data Processing from a “strong-buy” rating to a “buy” rating in a research report on Thursday, November 2nd. Eleven equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $118.43.

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About Automatic Data Processing

Automatic Data Processing, Inc (ADP) is a provider of human capital management (HCM) solutions to employers, offering solutions to businesses of various sizes. The Company also provides business process outsourcing solutions. Its segments include Employer Services and Professional Employer Organization (PEO) Services.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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