Transcend Capital Advisors LLC Sells 4,547 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Transcend Capital Advisors LLC lessened its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 19.3% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,072 shares of the business services provider’s stock after selling 4,547 shares during the period. Transcend Capital Advisors LLC’s holdings in Automatic Data Processing were worth $4,443,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Ardent Capital Management Inc. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $392,000. Americana Partners LLC raised its position in shares of Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after buying an additional 660 shares in the last quarter. Everence Capital Management Inc. raised its position in shares of Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after buying an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC raised its position in shares of Automatic Data Processing by 36.7% during the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after buying an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth about $1,635,000. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ADP. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Wolfe Research raised shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $254.58.

Automatic Data Processing Trading Down 1.3 %

Shares of Automatic Data Processing stock traded down $3.27 on Friday, hitting $243.07. 1,555,489 shares of the company traded hands, compared to its average volume of 1,384,926. The stock’s 50 day moving average price is $246.70 and its 200-day moving average price is $239.26. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The company has a market cap of $99.85 billion, a PE ratio of 28.30, a PEG ratio of 2.31 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the company posted $1.96 earnings per share. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Automatic Data Processing news, VP David Kwon sold 863 shares of Automatic Data Processing 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 transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Don Mcguire sold 11,333 shares of Automatic Data Processing 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 completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. 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 ninety days. 0.26% of the stock is owned by company insiders.

Automatic Data Processing 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.