KFG Wealth Management LLC Has $853,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

KFG Wealth Management LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.7% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,915 shares of the business services provider’s stock after buying an additional 78 shares during the quarter. KFG Wealth Management LLC’s holdings in Automatic Data Processing were worth $853,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. State Street Corp lifted its stake in shares of Automatic Data Processing by 2.4% in the 3rd quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after acquiring an additional 424,328 shares during the last quarter. Geode Capital Management LLC increased its holdings in Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock worth $2,906,257,000 after purchasing an additional 286,080 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after purchasing an additional 41,709 shares during the last quarter. Accredited Investors Inc. boosted 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 in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Automatic Data Processing by 0.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 2,252,807 shares of the business services provider’s stock worth $623,419,000 after purchasing an additional 17,717 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

ADP has been the subject of a number of recent research reports. Mizuho increased their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Finally, Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Price Performance

ADP opened at $297.10 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year 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 company has a market capitalization 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’s fifty day moving average price is $297.13 and its two-hundred day moving average price is $282.10.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm earned $2.08 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last three months. 0.21% of the stock is currently owned by insiders.

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.