Greenwich Wealth Management LLC Sells 119 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Greenwich Wealth Management LLC decreased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% during the 4th quarter, Holdings Channel reports. The firm owned 1,799 shares of the business services provider’s stock after selling 119 shares during the period. Greenwich Wealth Management LLC’s holdings in Automatic Data Processing were worth $527,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC lifted its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in Automatic Data Processing in the 4th quarter valued at $41,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on ADP shares. UBS Group lifted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays boosted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $296.18.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing 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 sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the company’s 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 transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

ADP opened at $291.76 on Monday. 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 52-week low of $231.27 and a 52-week high of $322.84. The firm has a market cap of $118.88 billion, a P/E ratio of 30.42, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The business’s fifty day moving average is $302.32 and its 200-day moving average is $294.74.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 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.