TCV Trust & Wealth Management Inc. Lowers Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

TCV Trust & Wealth Management Inc. reduced its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 63,029 shares of the business services provider’s stock after selling 1,632 shares during the quarter. Automatic Data Processing comprises about 1.6% of TCV Trust & Wealth Management Inc.’s portfolio, making the stock its 19th biggest position. TCV Trust & Wealth Management Inc.’s holdings in Automatic Data Processing were worth $17,442,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of ADP. Vicus Capital bought a new position in shares of Automatic Data Processing during the first quarter valued at approximately $211,000. New Mexico Educational Retirement Board lifted its holdings in Automatic Data Processing by 13.5% during the first quarter. New Mexico Educational Retirement Board now owns 24,443 shares of the business services provider’s stock worth $5,562,000 after buying an additional 2,900 shares during the period. Trilogy Capital Inc. bought a new stake in Automatic Data Processing during the 1st quarter valued at $279,000. LVW Advisors LLC increased its holdings in shares of Automatic Data Processing by 23.8% in the 1st quarter. LVW Advisors LLC now owns 3,854 shares of the business services provider’s stock valued at $962,000 after acquiring an additional 740 shares during the period. Finally, Oak Asset Management LLC raised its position in shares of Automatic Data Processing by 3.4% in the 1st quarter. Oak Asset Management LLC now owns 2,745 shares of the business services provider’s stock worth $686,000 after acquiring an additional 90 shares in the last quarter. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ADP shares. Jefferies Financial Group raised their price objective 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 reaffirmed a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, August 1st. Barclays increased their target price on shares of Automatic Data Processing from $282.00 to $310.00 and gave the company an “overweight” rating in a research report on Monday, August 5th. Stifel Nicolaus lifted their price target on shares of Automatic Data Processing from $271.00 to $287.00 and gave the stock a “hold” rating in a report on Thursday, August 1st. Finally, UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $277.64.

Insiders Place Their Bets

In other news, Director Carlos A. Rodriguez sold 9,203 shares of the business’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total value of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at $9,899,862.45. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, CEO Maria Black sold 19,147 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $274.38, for a total transaction of $5,253,553.86. Following the sale, the chief executive officer now owns 92,807 shares in the company, valued at approximately $25,464,384.66. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carlos A. Rodriguez sold 9,203 shares of the company’s stock in a transaction dated Friday, September 6th. The stock was sold at an average price of $269.45, for a total transaction of $2,479,748.35. Following the completion of the transaction, the director now owns 36,741 shares of the company’s stock, valued at approximately $9,899,862.45. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 58,817 shares of company stock valued at $15,999,208. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Stock Down 0.5 %

Automatic Data Processing stock opened at $287.96 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $294.18. The company has a market cap of $117.86 billion, a PE ratio of 32.14, a PEG ratio of 3.13 and a beta of 0.79. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $279.40 and its two-hundred day simple moving average is $258.45.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, July 31st. The business services provider reported $2.09 earnings per share for the quarter, topping the consensus estimate of $2.06 by $0.03. Automatic Data Processing had a net margin of 19.54% and a return on equity of 89.20%. The company had revenue of $4.80 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company earned $1.89 EPS. Automatic Data Processing’s quarterly revenue was up 7.2% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 10.04 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Friday, September 13th were issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, September 13th. Automatic Data Processing’s payout ratio is 62.50%.

Automatic Data Processing 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.