Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Waterway Wealth Management LLC

Waterway Wealth Management LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,057 shares of the business services provider’s stock after purchasing an additional 55 shares during the period. Waterway Wealth Management LLC’s holdings in Automatic Data Processing were worth $309,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing during the 3rd quarter worth approximately $209,000. Littlejohn Financial Services Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $708,000. Nomura Asset Management Co. Ltd. grew its position in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares during the last quarter. RIA Advisory Group LLC acquired a new position in Automatic Data Processing in the third quarter valued at $470,000. Finally, Dash Acquisitions Inc. grew its stake in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after purchasing an additional 2,781 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Down 0.0 %

Shares of Automatic Data Processing stock opened at $311.30 on Friday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $315.29. The stock has a market cap of $126.84 billion, a price-to-earnings ratio of 32.46, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a fifty day moving average price of $300.24 and a 200 day moving average price of $291.53.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays lifted 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 report on Monday, February 3rd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. TD Cowen upped their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Activity

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 ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last ninety days. 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.