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

Tyler Stone Wealth Management boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 123.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,218 shares of the business services provider’s stock after purchasing an additional 1,224 shares during the period. Tyler Stone Wealth Management’s holdings in Automatic Data Processing were worth $649,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Banco BTG Pactual S.A. purchased a new stake in shares of Automatic Data Processing during the 4th quarter worth $461,000. Financial Engines Advisors L.L.C. increased its holdings in shares of Automatic Data Processing by 6.3% in the 4th quarter. Financial Engines Advisors L.L.C. now owns 12,182 shares of the business services provider’s stock valued at $3,566,000 after purchasing an additional 724 shares in the last quarter. Financial Counselors Inc. lifted its stake in shares of Automatic Data Processing by 2.0% in the fourth quarter. Financial Counselors Inc. now owns 12,532 shares of the business services provider’s stock valued at $3,668,000 after purchasing an additional 247 shares during the period. Murphy & Mullick Capital Management Corp purchased a new stake in Automatic Data Processing during the fourth quarter worth about $160,000. Finally, Prestige Wealth Management Group LLC grew its position in Automatic Data Processing by 5.2% during the fourth quarter. Prestige Wealth Management Group LLC now owns 5,603 shares of the business services provider’s stock worth $1,649,000 after buying an additional 278 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Jefferies Financial Group lifted their price target 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. Barclays lifted their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group upped their target price on 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 cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus price target of $302.30.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Up 1.0 %

Shares of ADP stock opened at $302.41 on Thursday. The company has a market capitalization of $123.22 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76. 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 firm has a 50-day moving average price of $303.59 and a 200 day moving average price of $295.96. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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%. Research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.