Sigma Planning Corp Buys 313 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Sigma Planning Corp grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,041 shares of the business services provider’s stock after acquiring an additional 313 shares during the period. Sigma Planning Corp’s holdings in Automatic Data Processing were worth $1,768,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the third quarter worth approximately $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $35,000. Finally, Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Down 0.4 %

Automatic Data Processing stock opened at $310.76 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. The business has a fifty day moving average price of $298.72 and a 200-day moving average price of $290.54. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly 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 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Transactions at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the topic of several recent research reports. Mizuho increased their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Jefferies Financial Group increased 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 note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, TD Cowen increased their target price 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. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and an average target price of $293.55.

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.