C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors Buys 51 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,491 shares of the business services provider’s stock after acquiring an additional 51 shares during the period. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors’ holdings in Automatic Data Processing were worth $1,315,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC raised its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the period. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter valued at approximately $35,000. Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock worth $1,617,241 over the last three months. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the topic of several research analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. 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 research report on Tuesday, October 22nd. TD Cowen upped their target price 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. Mizuho upped their target price 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. Finally, Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Up 0.6 %

Shares of NASDAQ:ADP opened at $309.89 on Wednesday. The company has a market capitalization of $126.27 billion, a P/E ratio of 32.31, a P/E/G ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. 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 business’s 50 day simple moving average is $297.93 and its 200 day simple moving average is $289.42.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.99%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is presently 64.23%.

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.