Avior Wealth Management LLC Has $3.56 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Avior Wealth Management LLC cut its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 15.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 12,167 shares of the business services provider’s stock after selling 2,306 shares during the quarter. Avior Wealth Management LLC’s holdings in Automatic Data Processing were worth $3,562,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC grew its holdings in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Hexagon Capital Partners LLC lifted its stake in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the 3rd quarter worth approximately $35,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ADP shares. Mizuho increased their target price 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. Jefferies Financial Group increased their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. UBS Group raised their target price on shares of 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, Barclays upped their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by company insiders.

Automatic Data Processing Stock Down 0.6 %

Shares of ADP opened at $296.36 on Thursday. The firm’s 50-day simple moving average is $297.27 and its 200 day simple moving average is $281.56. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $120.75 billion, a P/E ratio of 31.63, a price-to-earnings-growth ratio of 3.47 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the company earned $2.08 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.94 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. Investors 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 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

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.