Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by LMG Wealth Partners LLC

LMG Wealth Partners LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the 4th quarter, HoldingsChannel reports. The fund owned 18,586 shares of the business services provider’s stock after acquiring an additional 84 shares during the period. LMG Wealth Partners LLC’s holdings in Automatic Data Processing were worth $5,441,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the 3rd quarter worth about $26,000. Dunhill Financial LLC increased its position in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $37,000. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing in the 3rd quarter valued at $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two equities research 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.com, the stock has a consensus rating of “Hold” and a consensus price target of $293.55.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following 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 disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last ninety days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Stock Up 1.1 %

Shares of NASDAQ ADP opened at $313.22 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The stock’s 50-day simple moving average is $298.18 and its 200-day simple moving average is $289.59. The firm has a market cap of $127.62 billion, a price-to-earnings ratio of 32.66, a PEG ratio of 3.59 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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%. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.97%. Automatic Data Processing’s dividend payout ratio is presently 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.