Forvis Mazars Wealth Advisors LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Forvis Mazars Wealth Advisors LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 3,740 shares of the business services provider’s stock after buying an additional 204 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,095,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently added to or reduced their stakes in ADP. Silver Oak Securities Incorporated raised its position in Automatic Data Processing by 193.7% in the 3rd quarter. Silver Oak Securities Incorporated now owns 1,624 shares of the business services provider’s stock valued at $443,000 after purchasing an additional 1,071 shares during the last quarter. Country Club Bank increased its stake in Automatic Data Processing by 1.8% in the third quarter. Country Club Bank now owns 5,805 shares of the business services provider’s stock valued at $1,584,000 after purchasing an additional 105 shares during the period. Consolidated Portfolio Review Corp acquired a new position in Automatic Data Processing in the third quarter valued at $207,000. Modera Wealth Management LLC raised its holdings in shares of Automatic Data Processing by 1.4% in the third quarter. Modera Wealth Management LLC now owns 98,339 shares of the business services provider’s stock valued at $27,213,000 after buying an additional 1,397 shares during the last quarter. Finally, Capital Advisors Ltd. LLC boosted its stake in shares of Automatic Data Processing by 3.7% during the third quarter. Capital Advisors Ltd. LLC now owns 1,806 shares of the business services provider’s stock worth $500,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent research reports. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Barclays increased their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Stock Performance

Shares of ADP opened at $310.76 on Monday. 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 52-week low of $231.27 and a 52-week high of $313.72. The company has a 50-day simple moving average of $298.72 and a 200-day simple moving average of $290.54. The company has a market capitalization of $126.62 billion, a PE ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79.

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 net margin of 19.76% and a return on equity of 80.86%. Equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed 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. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

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.