Ropes Wealth Advisors LLC Sells 3,829 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ropes Wealth Advisors LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADPGet Rating) by 11.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 28,706 shares of the business services provider’s stock after selling 3,829 shares during the period. Automatic Data Processing accounts for 1.2% of Ropes Wealth Advisors LLC’s investment portfolio, making the stock its 17th biggest position. Ropes Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $7,078,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Gilman Hill Asset Management LLC lifted its stake in shares of Automatic Data Processing by 2.8% in the fourth quarter. Gilman Hill Asset Management LLC now owns 1,620 shares of the business services provider’s stock worth $399,000 after buying an additional 44 shares in the last quarter. Baystate Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 3.2% in the fourth quarter. Baystate Wealth Management LLC now owns 1,482 shares of the business services provider’s stock worth $366,000 after buying an additional 46 shares in the last quarter. Horan Capital Advisors LLC. lifted its stake in shares of Automatic Data Processing by 0.3% in the fourth quarter. Horan Capital Advisors LLC. now owns 14,361 shares of the business services provider’s stock worth $3,541,000 after buying an additional 49 shares in the last quarter. Wealth Architects LLC lifted its stake in shares of Automatic Data Processing by 1.8% in the fourth quarter. Wealth Architects LLC now owns 2,815 shares of the business services provider’s stock worth $694,000 after buying an additional 50 shares in the last quarter. Finally, Wealth Enhancement & Preservation of GA LLC lifted its stake in shares of Automatic Data Processing by 0.8% in the fourth quarter. Wealth Enhancement & Preservation of GA LLC now owns 5,977 shares of the business services provider’s stock worth $1,474,000 after buying an additional 50 shares in the last quarter. 78.84% of the stock is owned by institutional investors.

In other Automatic Data Processing news, VP Deborah L. Dyson sold 2,787 shares of the firm’s stock in a transaction dated Tuesday, April 5th. The shares were sold at an average price of $234.55, for a total transaction of $653,690.85. Following the transaction, the vice president now owns 26,663 shares of the company’s stock, valued at approximately $6,253,806.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D’ambrosio sold 312 shares of the firm’s stock in a transaction dated Monday, May 9th. The shares were sold at an average price of $214.07, for a total transaction of $66,789.84. Following the transaction, the vice president now directly owns 1,663 shares in the company, valued at approximately $355,998.41. The disclosure for this sale can be found here. Company insiders own 0.34% of the company’s stock.

Several research analysts have recently weighed in on ADP shares. Barclays boosted their price objective on shares of Automatic Data Processing from $238.00 to $257.00 and gave the company an “overweight” rating in a report on Monday, May 2nd. Mizuho upped their target price on shares of Automatic Data Processing from $235.00 to $250.00 and gave the company a “buy” rating in a report on Monday, May 2nd. Citigroup upped their target price on shares of Automatic Data Processing from $212.00 to $230.00 in a report on Monday, May 2nd. StockNews.com assumed coverage on shares of Automatic Data Processing in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $238.00 target price (up from $222.00) on shares of Automatic Data Processing in a report on Friday, March 11th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $231.43.

Shares of ADP traded up $1.31 during midday trading on Friday, hitting $208.79. The stock had a trading volume of 2,390,845 shares, compared to its average volume of 1,959,430. Automatic Data Processing, Inc. has a 1 year low of $187.29 and a 1 year high of $248.96. The firm has a market cap of $87.22 billion, a PE ratio of 30.84, a price-to-earnings-growth ratio of 2.49 and a beta of 0.82. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day moving average is $221.59 and its 200 day moving average is $223.01.

Automatic Data Processing (NASDAQ:ADPGet Rating) last posted its quarterly earnings results on Wednesday, April 27th. The business services provider reported $2.21 EPS for the quarter, topping the consensus estimate of $2.08 by $0.13. The company had revenue of $4.51 billion for the quarter, compared to the consensus estimate of $4.45 billion. Automatic Data Processing had a net margin of 17.77% and a return on equity of 56.01%. The firm’s revenue was up 10.0% compared to the same quarter last year. During the same quarter last year, the firm posted $1.89 EPS. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 6.97 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 1st. Shareholders of record on Friday, June 10th will be given a dividend of $1.04 per share. This represents a $4.16 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Thursday, June 9th. Automatic Data Processing’s dividend payout ratio (DPR) is 61.45%.

Automatic Data Processing Profile (Get Rating)

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.

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

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