Donoghue Forlines LLC Invests $2.08 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Donoghue Forlines LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 7,103 shares of the business services provider’s stock, valued at approximately $2,079,000. Automatic Data Processing accounts for approximately 0.7% of Donoghue Forlines LLC’s investment portfolio, making the stock its 21st largest position.

Several other hedge funds also recently added to or reduced their stakes in ADP. Beacon Investment Advisory Services Inc. boosted its position in Automatic Data Processing by 1.6% in the 4th quarter. Beacon Investment Advisory Services Inc. now owns 20,459 shares of the business services provider’s stock valued at $5,989,000 after buying an additional 325 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Janney Montgomery Scott LLC now owns 193,065 shares of the business services provider’s stock valued at $56,516,000 after buying an additional 2,854 shares during the last quarter. Bartlett & CO. Wealth Management LLC increased its position in Automatic Data Processing by 1.9% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 99,256 shares of the business services provider’s stock valued at $29,208,000 after acquiring an additional 1,882 shares during the period. Albion Financial Group UT raised its stake in Automatic Data Processing by 42.7% during the 4th quarter. Albion Financial Group UT now owns 3,567 shares of the business services provider’s stock valued at $1,044,000 after acquiring an additional 1,067 shares in the last quarter. Finally, XML Financial LLC acquired a new position in Automatic Data Processing during the 4th quarter worth $205,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Down 0.1 %

ADP stock opened at $296.18 on Thursday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The stock has a market capitalization of $120.68 billion, a price-to-earnings ratio of 31.62, a P/E/G ratio of 3.47 and a beta of 0.79. 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 business has a fifty day moving average price of $297.27 and a 200 day moving average price of $281.56.

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. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period last year, the firm earned $2.08 EPS. Analysts expect that Automatic Data Processing, Inc. will post 9.94 EPS 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 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s payout ratio is presently 65.74%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. 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. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. TD Cowen increased 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. Finally, UBS Group lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Activity at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

Automatic Data Processing Company 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.