Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by LMG Wealth Partners LLC

LMG Wealth Partners LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,586 shares of the business services provider’s stock after buying an additional 84 shares during the quarter. LMG Wealth Partners LLC’s holdings in Automatic Data Processing were worth $5,441,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. DSM Capital Partners LLC boosted its stake in shares of Automatic Data Processing by 8.4% during the fourth quarter. DSM Capital Partners LLC now owns 3,952 shares of the business services provider’s stock worth $1,157,000 after buying an additional 305 shares during the period. Convergence Investment Partners LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $201,000. Atlas Legacy Advisors LLC acquired a new stake in Automatic Data Processing during the 4th quarter worth approximately $701,000. Bank of Jackson Hole Trust purchased a new position in shares of Automatic Data Processing in the 4th quarter valued at approximately $144,000. Finally, Lorne Steinberg Wealth Management Inc. increased its holdings in shares of Automatic Data Processing by 1.3% in the fourth quarter. Lorne Steinberg Wealth Management Inc. now owns 8,485 shares of the business services provider’s stock valued at $2,484,000 after purchasing an additional 109 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays boosted their price target 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, February 3rd. Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. Finally, Mizuho lifted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $293.55.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction 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. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last 90 days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Trading Up 1.1 %

Shares of ADP opened at $313.22 on Thursday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $313.72. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $127.62 billion, a P/E ratio of 32.66, a PEG ratio of 3.59 and a beta of 0.79. The firm’s 50-day moving average is $298.18 and its two-hundred day moving average is $289.59.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.