Kingsview Wealth Management LLC Sells 453 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Kingsview Wealth Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 28,412 shares of the business services provider’s stock after selling 453 shares during the period. Kingsview Wealth Management LLC’s holdings in Automatic Data Processing were worth $8,317,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Apollon Wealth Management LLC grew its holdings in Automatic Data Processing by 2.4% in the fourth quarter. Apollon Wealth Management LLC now owns 13,930 shares of the business services provider’s stock worth $4,078,000 after purchasing an additional 321 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth about $128,000. Global X Japan Co. Ltd. grew its stake in shares of Automatic Data Processing by 5.3% in the 4th quarter. Global X Japan Co. Ltd. now owns 1,797 shares of the business services provider’s stock valued at $526,000 after buying an additional 90 shares during the period. William Allan Corp raised its stake in Automatic Data Processing by 1.2% during the 4th quarter. William Allan Corp now owns 21,368 shares of the business services provider’s stock worth $6,255,000 after buying an additional 257 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Automatic Data Processing by 4.1% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 53,637 shares of the business services provider’s stock worth $15,701,000 after acquiring an additional 2,119 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the company. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. TD Cowen upped their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $293.55.

Insider Activity at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Down 1.0 %

NASDAQ:ADP opened at $305.97 on Friday. The firm’s 50 day moving average is $297.20 and its 200 day moving average is $286.39. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $311.67. The stock has a market capitalization of $124.67 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating 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%. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.