OneAscent Financial Services LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

OneAscent Financial Services LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,965 shares of the business services provider’s stock, valued at approximately $576,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing during the third quarter worth about $26,000. Investment Management Corp of Ontario grew its stake in shares of Automatic Data Processing by 49.4% in the 3rd quarter. Investment Management Corp of Ontario now owns 13,604 shares of the business services provider’s stock valued at $3,765,000 after buying an additional 4,500 shares during the period. Integrated Wealth Concepts LLC increased its holdings in shares of Automatic Data Processing by 16.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 10,826 shares of the business services provider’s stock worth $2,996,000 after buying an additional 1,545 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of Automatic Data Processing by 8.6% during the 3rd quarter. IHT Wealth Management LLC now owns 7,327 shares of the business services provider’s stock valued at $2,030,000 after buying an additional 580 shares during the period. Finally, Port Capital LLC acquired a new position in Automatic Data Processing in the third quarter valued at approximately $11,242,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

Shares of ADP stock opened at $307.23 on Thursday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The firm has a 50 day moving average of $304.44 and a two-hundred day moving average of $296.92. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $125.18 billion, a PE ratio of 32.04, a P/E/G ratio of 3.62 and a beta of 0.74.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Friday, March 14th were paid a dividend of $1.54 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s payout ratio is 64.23%.

Insider Activity 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 stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 7,089 shares of company stock valued at $2,113,777 over the last 90 days. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of research analyst reports. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. UBS Group boosted their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays increased their price objective 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $302.30.

About Automatic Data Processing

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.