Accretive Wealth Partners LLC Sells 67 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Accretive Wealth Partners LLC reduced its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.8% in the 4th quarter, Holdings Channel reports. The firm owned 8,030 shares of the business services provider’s stock after selling 67 shares during the quarter. Automatic Data Processing accounts for 1.0% of Accretive Wealth Partners LLC’s investment portfolio, making the stock its 28th largest holding. Accretive Wealth Partners LLC’s holdings in Automatic Data Processing were worth $2,351,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the stock. Moloney Securities Asset Management LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter worth about $209,000. Nomura Asset Management Co. Ltd. raised its position in shares of Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $470,000. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $708,000. Finally, Dash Acquisitions Inc. grew its stake in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after buying an additional 2,781 shares during the period. 80.03% of the stock is owned by institutional investors.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $308.15 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The stock’s 50 day moving average price is $297.49 and its 200-day moving average price is $288.00. The company has a market capitalization of $125.56 billion, a PE ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.00%. Automatic Data Processing’s payout ratio is presently 64.23%.

Analyst Upgrades and Downgrades

ADP has been the subject of several research reports. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, TD Cowen lifted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $293.55.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last 90 days. 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.