Nvest Financial LLC Purchases 880 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Nvest Financial LLC lifted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 28.1% in the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,017 shares of the business services provider’s stock after acquiring an additional 880 shares during the period. Nvest Financial LLC’s holdings in Automatic Data Processing were worth $1,176,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Robeco Institutional Asset Management B.V. increased its stake in shares of Automatic Data Processing by 5.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 279,327 shares of the business services provider’s stock valued at $81,767,000 after purchasing an additional 14,161 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth approximately $158,000. BSW Wealth Partners increased its position in Automatic Data Processing by 2.9% during the 4th quarter. BSW Wealth Partners now owns 3,721 shares of the business services provider’s stock valued at $1,089,000 after buying an additional 104 shares in the last quarter. Stonegate Investment Group LLC raised its stake in Automatic Data Processing by 49.5% during the fourth quarter. Stonegate Investment Group LLC now owns 2,266 shares of the business services provider’s stock valued at $663,000 after buying an additional 750 shares during the last quarter. Finally, Perigon Wealth Management LLC boosted its holdings in Automatic Data Processing by 33.3% in the fourth quarter. Perigon Wealth Management LLC now owns 30,926 shares of the business services provider’s stock worth $9,161,000 after acquiring an additional 7,734 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $298.31 on Wednesday. The firm has a fifty day simple moving average of $297.19 and a two-hundred day simple moving average of $283.65. The firm has a market cap of $121.55 billion, a PE ratio of 31.84, a P/E/G 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, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed 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 2.06%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ADP shares. UBS Group raised their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays upped their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. TD Cowen raised 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 report on Friday, November 1st. Finally, Mizuho upped their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $289.91.

Insider Buying and Selling

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares in the company, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’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 transaction of $106,366.46. Following the sale, 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. Over the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

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.