Kestra Private Wealth Services LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kestra Private Wealth Services LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,378 shares of the business services provider’s stock after purchasing an additional 1,992 shares during the period. Kestra Private Wealth Services LLC’s holdings in Automatic Data Processing were worth $8,600,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CWM LLC grew its stake in shares of Automatic Data Processing by 8.7% during the 3rd quarter. CWM LLC now owns 19,941 shares of the business services provider’s stock valued at $5,518,000 after purchasing an additional 1,603 shares during the period. Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in shares of Automatic Data Processing by 317.3% in the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,059 shares of the business services provider’s stock worth $846,000 after buying an additional 2,326 shares during the last quarter. Fiduciary Financial Group LLC grew its position in Automatic Data Processing by 4.8% during the third quarter. Fiduciary Financial Group LLC now owns 990 shares of the business services provider’s stock valued at $283,000 after buying an additional 45 shares during the period. Exchange Traded Concepts LLC increased its holdings in Automatic Data Processing by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock valued at $1,278,000 after buying an additional 861 shares during the last quarter. Finally, Koshinski Asset Management Inc. raised its position in Automatic Data Processing by 3.7% in the third quarter. Koshinski Asset Management Inc. now owns 6,756 shares of the business services provider’s stock worth $1,870,000 after acquiring an additional 244 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ADP shares. Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. 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. Finally, Jefferies Financial Group raised their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two 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, the stock has an average rating of “Hold” and a consensus price target of $293.55.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the 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 owns 13,706 shares in the company, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,478 shares of company stock valued at $1,617,241. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 1.0 %

Automatic Data Processing stock opened at $305.97 on Monday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The firm’s 50 day moving average price is $297.20 and its 200-day moving average price is $286.66. 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 cap of $124.67 billion, a P/E ratio of 31.91, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.01%. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.