Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by 1900 Wealth Management LLC

1900 Wealth Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,651 shares of the business services provider’s stock after purchasing an additional 51 shares during the quarter. 1900 Wealth Management LLC’s holdings in Automatic Data Processing were worth $483,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC lifted its stake in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares in the last quarter. Hexagon Capital Partners LLC boosted its holdings in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Finally, Capital Performance Advisors LLP purchased a new position in Automatic Data Processing during the third quarter worth approximately $35,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Shares of NASDAQ ADP opened at $308.97 on Friday. The stock has a fifty day simple moving average of $297.17 and a 200-day simple moving average of $285.83. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The stock has a market capitalization of $125.89 billion, a PE ratio of 32.22, a PEG ratio of 3.52 and a beta of 0.79. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS 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 forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

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

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on ADP shares. 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. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday. Barclays lifted their target price 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. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. Two 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’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $293.55.

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.