Tyche Wealth Partners LLC Sells 3,643 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Tyche Wealth Partners LLC cut its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 60.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,381 shares of the business services provider's stock after selling 3,643 shares during the period. Tyche Wealth Partners LLC's holdings in Automatic Data Processing were worth $727,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. AMG National Trust Bank boosted its position in Automatic Data Processing by 0.3% in the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after buying an additional 33 shares during the last quarter. Sentinus LLC boosted its position in Automatic Data Processing by 2.3% in the 4th quarter. Sentinus LLC now owns 1,548 shares of the business services provider's stock valued at $453,000 after buying an additional 35 shares during the last quarter. Rehmann Capital Advisory Group grew its stake in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider's stock worth $1,079,000 after purchasing an additional 36 shares during the period. Delta Financial Advisors LLC grew its stake in shares of Automatic Data Processing by 0.3% during the fourth quarter. Delta Financial Advisors LLC now owns 14,572 shares of the business services provider's stock worth $4,266,000 after purchasing an additional 37 shares during the period. Finally, Canton Hathaway LLC lifted its stake in Automatic Data Processing by 6.7% in the fourth quarter. Canton Hathaway LLC now owns 593 shares of the business services provider's stock valued at $174,000 after buying an additional 37 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

ADP opened at $311.40 on Wednesday. The business's 50-day moving average price is $310.05 and its two-hundred day moving average price is $303.05. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a market capitalization of $126.40 billion, a price-to-earnings ratio of 31.87, a P/E/G ratio of 3.22 and a beta of 0.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.02 and a quick ratio of 1.02.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The company had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. Automatic Data Processing's revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.88 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is 63.05%.

Wall Street Analyst Weigh In

ADP has been the topic of a number of recent analyst reports. Royal Bank Of Canada restated a "sector perform" rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, June 5th. Stifel Nicolaus raised their target price on Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a report on Friday, May 2nd. UBS Group dropped their price objective on Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating on the stock in a research note on Friday, June 13th. TD Securities raised their price objective on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday, May 21st. Finally, Mizuho raised their price objective on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a research note on Friday, June 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $307.08.

Insider Activity

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

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.

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