Barlow Wealth Partners Inc. Buys New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Barlow Wealth Partners Inc. bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 6,229 shares of the business services provider’s stock, valued at approximately $1,451,000.

Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Everhart Financial Group Inc. increased its position in shares of Automatic Data Processing by 20.1% during the third quarter. Everhart Financial Group Inc. now owns 1,584 shares of the business services provider’s stock valued at $381,000 after buying an additional 265 shares during the period. Lindbrook Capital LLC increased its stake in Automatic Data Processing by 7.5% in the 3rd quarter. Lindbrook Capital LLC now owns 2,002 shares of the business services provider’s stock worth $482,000 after purchasing an additional 140 shares during the period. Verdence Capital Advisors LLC boosted its holdings in shares of Automatic Data Processing by 7.5% during the third quarter. Verdence Capital Advisors LLC now owns 8,415 shares of the business services provider’s stock worth $2,024,000 after purchasing an additional 585 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Automatic Data Processing by 9.8% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 152,241 shares of the business services provider’s stock valued at $36,626,000 after acquiring an additional 13,594 shares in the last quarter. Finally, Pennsylvania Capital Management Inc. ADV raised its position in shares of Automatic Data Processing by 31.8% in the 3rd quarter. Pennsylvania Capital Management Inc. ADV now owns 2,677 shares of the business services provider’s stock worth $644,000 after acquiring an additional 646 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on ADP. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. JPMorgan Chase & Co. dropped their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday, May 2nd. Evercore ISI boosted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Finally, TD Cowen cut their price target on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $255.42.

Insider Activity

In related news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the transaction, the vice president now owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The disclosure for this sale can be found here. Insiders sold a total of 2,966 shares of company stock valued at $749,524 in the last 90 days. 0.26% of the stock is currently owned by insiders.

Automatic Data Processing Price Performance

Shares of ADP stock traded down $2.18 during mid-day trading on Wednesday, reaching $242.94. The stock had a trading volume of 1,133,452 shares, compared to its average volume of 1,774,157. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The company has a market cap of $99.43 billion, a P/E ratio of 27.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The business has a 50-day simple moving average of $245.29 and a 200 day simple moving average of $238.95. Automatic Data Processing, Inc. has a 12-month low of $205.53 and a 12-month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. Automatic Data Processing’s revenue was up 7.6% compared to the same quarter last year. During the same quarter last year, the business posted $2.52 earnings per share. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

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.