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

Kingsview Wealth Management LLC trimmed its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 28,412 shares of the business services provider’s stock after selling 453 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Automatic Data Processing were worth $8,317,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Moloney Securities Asset Management LLC bought a new position in shares of Automatic Data Processing in the third quarter worth approximately $209,000. Nomura Asset Management Co. Ltd. boosted its position in Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares during the period. RIA Advisory Group LLC bought a new stake in Automatic Data Processing in the 3rd quarter worth $470,000. Dash Acquisitions Inc. increased its position in shares of Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares during the period. Finally, DRW Securities LLC bought a new position in shares of Automatic Data Processing during the third quarter valued at about $951,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $305.97 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $124.67 billion, a P/E ratio of 31.91, a PEG ratio of 3.60 and a beta of 0.79. The stock’s 50 day moving average is $297.20 and its 200 day moving average is $286.39.

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, topping 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%. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Mizuho upped 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 boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research 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 assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $293.55.

About Automatic Data Processing

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.