Fifth Third Wealth Advisors LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) by 16.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 5,211 shares of the business services provider’s stock after purchasing an additional 718 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $1,525,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in ADP. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing in the third quarter valued at $26,000. Kiely Wealth Advisory Group Inc. bought a new stake in Automatic Data Processing in the second quarter valued at approximately $27,000. Dunhill Financial LLC lifted its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake 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 buying an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the third quarter worth approximately $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have issued reports on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Barclays upped their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research report on Thursday, October 31st. 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 research note on Monday, November 4th. Finally, Citigroup raised their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $289.91.
Automatic Data Processing Stock Performance
NASDAQ ADP opened at $293.37 on Thursday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a 50-day simple moving average of $298.48 and a two-hundred day simple moving average of $279.35. The firm has a market cap of $119.54 billion, a price-to-earnings ratio of 31.31, a PEG ratio of 3.50 and a beta of 0.79.
Automatic Data Processing (NASDAQ:ADP – Get Free Report) 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. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same period last year, the company posted $2.08 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Automatic Data Processing Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.10%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.
Insider Activity
In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred 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 directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % 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 valued at $12,604,872 in the last 90 days. 0.21% of the stock is currently owned by insiders.
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.
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