Atomi Financial Group Inc. Has $1.12 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Atomi Financial Group Inc. grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,811 shares of the business services provider’s stock after buying an additional 641 shares during the period. Atomi Financial Group Inc.’s holdings in Automatic Data Processing were worth $1,116,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Tower Wealth Partners Inc. raised its position in shares of Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after acquiring an additional 35 shares during the period. Harbour Investments Inc. increased its stake in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after purchasing an additional 36 shares in the last quarter. Aspiriant LLC raised its holdings in Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after purchasing an additional 36 shares during the period. Petredis Investment Advisors LLC raised 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 worth $2,902,000 after purchasing an additional 37 shares during the period. Finally, Riversedge Advisors LLC boosted its position in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock worth $268,000 after purchasing an additional 37 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.7 %

ADP opened at $298.15 on Wednesday. The stock’s fifty day simple moving average is $297.69 and its 200 day simple moving average is $281.01. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The stock has a market cap of $121.48 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, beating the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.08 earnings per share. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Finally, TD Cowen lifted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $289.91.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were 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. The trade was a 54.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock worth $12,604,872 over the last quarter. 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.