Cambridge Advisors Inc. Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cambridge Advisors Inc. increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,142 shares of the business services provider’s stock after purchasing an additional 79 shares during the period. Cambridge Advisors Inc.’s holdings in Automatic Data Processing were worth $1,212,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ADP. Kelly Financial Services LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at about $5,436,000. Aaron Wealth Advisors LLC boosted its holdings in shares of Automatic Data Processing by 1.2% in the 4th quarter. Aaron Wealth Advisors LLC now owns 8,805 shares of the business services provider’s stock valued at $2,577,000 after buying an additional 103 shares in the last quarter. Moss Adams Wealth Advisors LLC grew its position in shares of Automatic Data Processing by 11.1% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 868 shares of the business services provider’s stock worth $255,000 after buying an additional 87 shares during the last quarter. Riversedge Advisors LLC raised its stake in shares of Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after acquiring an additional 37 shares in the last quarter. Finally, Astoria Portfolio Advisors LLC. lifted its position in Automatic Data Processing by 39.4% during the fourth quarter. Astoria Portfolio Advisors LLC. now owns 1,539 shares of the business services provider’s stock valued at $449,000 after acquiring an additional 435 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ADP shares. Royal Bank of Canada lifted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Citigroup upped their target price on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Finally, UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The firm has a market cap of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. The business’s 50 day moving average price is $297.90 and its 200 day moving average price is $279.99.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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 firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued 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%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated 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 transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last quarter. 0.21% of the stock is currently owned by company insiders.

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.