Nicholson Wealth Management Group LLC Acquires 1,701 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Nicholson Wealth Management Group LLC raised its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 45.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 5,449 shares of the business services provider’s stock after buying an additional 1,701 shares during the period. Automatic Data Processing comprises 1.1% of Nicholson Wealth Management Group LLC’s holdings, making the stock its 29th largest position. Nicholson Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $1,595,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Foundations Investment Advisors LLC increased its stake in Automatic Data Processing by 2.9% during the 3rd quarter. Foundations Investment Advisors LLC now owns 4,529 shares of the business services provider’s stock valued at $1,253,000 after purchasing an additional 126 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in shares of Automatic Data Processing by 11.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 8,932 shares of the business services provider’s stock worth $2,473,000 after acquiring an additional 922 shares in the last quarter. Elevated Capital Advisors LLC bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth $208,000. Monte Financial Group LLC grew its stake in shares of Automatic Data Processing by 1.1% in the 3rd quarter. Monte Financial Group LLC now owns 16,634 shares of the business services provider’s stock worth $4,603,000 after acquiring an additional 173 shares in the last quarter. Finally, McAdam LLC grew its stake in shares of Automatic Data Processing by 6.7% in the 3rd quarter. McAdam LLC now owns 1,794 shares of the business services provider’s stock worth $496,000 after acquiring an additional 112 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 over the last three months. 0.21% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on ADP shares. Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $311.97 on Friday. The company’s 50-day moving average is $298.44 and its 200 day moving average is $289.74. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $127.12 billion, a P/E ratio of 32.53, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

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.