Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Goldstone Financial Group LLC

Goldstone Financial Group LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.4% in the 4th quarter, Holdings Channel reports. The firm owned 886 shares of the business services provider’s stock after buying an additional 76 shares during the quarter. Goldstone Financial Group LLC’s holdings in Automatic Data Processing were worth $259,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Accredited Investors Inc. raised its stake in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider’s stock valued at $640,712,000 after purchasing an additional 2,264,202 shares during the period. International Assets Investment Management LLC grew its holdings in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider’s stock valued at $3,305,780,000 after purchasing an additional 1,190,407 shares in the last quarter. Holocene Advisors LP acquired a new stake in Automatic Data Processing during the 3rd quarter valued at $160,920,000. Healthcare of Ontario Pension Plan Trust Fund lifted its holdings in Automatic Data Processing by 332.3% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after buying an additional 479,145 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Automatic Data Processing by 242.4% in the 2nd quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider’s stock valued at $153,749,000 after buying an additional 456,027 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The stock was 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 in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 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. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 in the last 90 days. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Down 0.0 %

Shares of NASDAQ:ADP opened at $296.18 on Friday. The company’s fifty day moving average is $298.07 and its two-hundred day moving average is $279.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business 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 $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of analyst reports. Royal Bank of Canada lifted their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Citigroup lifted their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. Finally, TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have 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 MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $289.91.

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.