Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Precedent Wealth Partners LLC

Precedent Wealth Partners LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,009 shares of the business services provider’s stock after buying an additional 36 shares during the period. Precedent Wealth Partners LLC’s holdings in Automatic Data Processing were worth $1,466,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its stake in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Hexagon Capital Partners LLC raised its holdings in Automatic Data Processing by 78.5% during the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares in the last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing in the third quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new position in Automatic Data Processing during the 4th quarter valued at $37,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 0.4 %

Automatic Data Processing stock opened at $297.10 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $121.06 billion, a price-to-earnings ratio of 31.71, a P/E/G ratio of 3.45 and a beta of 0.79. The firm has a fifty day moving average price of $297.13 and a two-hundred day moving average price of $282.10.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the prior year, the company earned $2.08 EPS. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. Automatic Data Processing’s payout ratio is currently 65.74%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction of $305,322.05. Following the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 over the last quarter. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of a number of research reports. TD Cowen boosted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada upped their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Barclays lifted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday, January 19th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $289.91.

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.