Prosperity Consulting Group LLC Decreases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Prosperity Consulting Group LLC cut its stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,407 shares of the business services provider's stock after selling 914 shares during the period. Prosperity Consulting Group LLC's holdings in Automatic Data Processing were worth $3,925,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in ADP. AMG National Trust Bank raised its position in Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after acquiring an additional 33 shares in the last quarter. Aspiriant LLC increased its position in shares of Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock valued at $694,000 after buying an additional 36 shares in the last quarter. Precedent Wealth Partners LLC increased its position in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock valued at $1,466,000 after buying an additional 36 shares in the last quarter. Riversedge Advisors LLC increased its position in shares of Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after buying an additional 37 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Automatic Data Processing by 2.0% in the fourth quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after buying an additional 37 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of Automatic Data Processing stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the transaction, the vice president now directly owns 7,364 shares in the company, valued at approximately $2,158,682.96. This trade represents a 6.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock worth $1,447,893 in the last ninety days. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Down 0.8 %

Shares of Automatic Data Processing stock traded down $2.39 during trading hours on Thursday, hitting $298.21. The company's stock had a trading volume of 678,679 shares, compared to its average volume of 1,687,914. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The firm has a fifty day moving average of $298.65 and a 200-day moving average of $298.55. The stock has a market cap of $121.51 billion, a price-to-earnings ratio of 31.09, a P/E/G ratio of 3.62 and a beta of 0.74. 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 (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The business had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the prior year, the company posted $2.88 EPS. The company's quarterly revenue was up 5.7% on a year-over-year basis. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Analyst Ratings Changes

A number of analysts have recently commented on ADP shares. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. UBS Group boosted their price target on Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research report on Tuesday, March 4th. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. Finally, Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing has a consensus rating of "Hold" and an average target price of $301.91.

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.