SeaCrest Wealth Management LLC Raises Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

SeaCrest Wealth Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,518 shares of the business services provider’s stock after purchasing an additional 52 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Automatic Data Processing were worth $737,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tower Wealth Partners Inc. increased its holdings in shares of Automatic Data Processing by 3.4% during the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares in the last quarter. Harbour Investments Inc. grew its position in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after buying an additional 36 shares during the period. Petredis Investment Advisors LLC increased its holdings in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after buying an additional 37 shares in the last quarter. Moors & Cabot Inc. raised its position in shares of Automatic Data Processing by 0.7% in the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock worth $1,360,000 after acquiring an additional 39 shares during the period. Finally, Austin Private Wealth LLC boosted its stake in shares of Automatic Data Processing by 4.4% during the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock worth $255,000 after acquiring an additional 39 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Trading Up 0.6 %

ADP opened at $293.37 on Thursday. The firm has a market capitalization of $119.54 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company’s 50 day simple moving average is $298.48 and its two-hundred day simple moving average is $279.35. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the company posted $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.10%. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the company. Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. 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 stock. Based on data from MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and an average target price of $289.91.

Insider Activity

In other news, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on 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 transaction, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 in the last 90 days. Company insiders own 0.21% of the company’s stock.

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.