Mission Wealth Management LP Lowers Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Mission Wealth Management LP trimmed its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 8,091 shares of the business services provider’s stock after selling 163 shares during the period. Mission Wealth Management LP’s holdings in Automatic Data Processing were worth $2,369,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Woodley Farra Manion Portfolio Management Inc. raised its position in Automatic Data Processing by 0.9% in the fourth quarter. Woodley Farra Manion Portfolio Management Inc. now owns 129,498 shares of the business services provider’s stock valued at $38,101,000 after purchasing an additional 1,160 shares during the period. Fidelis Capital Partners LLC grew its stake in shares of Automatic Data Processing by 0.9% in the fourth quarter. Fidelis Capital Partners LLC now owns 7,915 shares of the business services provider’s stock valued at $2,432,000 after buying an additional 71 shares in the last quarter. Investment Partners LTD. raised its holdings in shares of Automatic Data Processing by 9.2% in the 4th quarter. Investment Partners LTD. now owns 7,388 shares of the business services provider’s stock valued at $2,163,000 after buying an additional 621 shares during the period. Plato Investment Management Ltd lifted its stake in Automatic Data Processing by 7.3% during the 4th quarter. Plato Investment Management Ltd now owns 28,974 shares of the business services provider’s stock worth $8,512,000 after acquiring an additional 1,979 shares in the last quarter. Finally, Bellecapital International Ltd. boosted its holdings in Automatic Data Processing by 5.3% during the 4th quarter. Bellecapital International Ltd. now owns 25,721 shares of the business services provider’s stock valued at $7,529,000 after acquiring an additional 1,296 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares in the company, valued at $1,723,589.82. This represents a 14.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction 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 owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 over the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 1.1 %

ADP opened at $318.64 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $320.50. The company has a market cap of $129.83 billion, a P/E ratio of 33.23, a PEG ratio of 3.62 and a beta of 0.79. The business’s 50-day simple moving average is $301.15 and its 200-day simple moving average is $292.72.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.93%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ADP. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Finally, Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $293.55.

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.