Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Allworth Financial LP

Allworth Financial LP increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 104,749 shares of the business services provider’s stock after acquiring an additional 204 shares during the period. Allworth Financial LP’s holdings in Automatic Data Processing were worth $31,043,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing in the 4th quarter worth approximately $37,000. Capital Performance Advisors LLP bought a new position in Automatic Data Processing in the 3rd quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the 4th quarter worth approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on ADP shares. Jefferies Financial Group boosted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. UBS Group boosted their price objective 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. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Down 0.7 %

Shares of NASDAQ:ADP opened at $308.15 on Friday. The firm has a market cap of $125.56 billion, a P/E ratio of 32.13, a P/E/G ratio of 3.60 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67. The business has a fifty day simple moving average of $297.56 and a 200 day simple moving average of $288.37.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Transactions at Automatic Data Processing

In related news, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. The trade was a 1.04 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock valued at $1,617,241. Corporate insiders own 0.21% of the company’s stock.

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.