Farther Finance Advisors LLC Has $2.91 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Farther Finance Advisors LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,925 shares of the business services provider’s stock after selling 159 shares during the quarter. Farther Finance Advisors LLC’s holdings in Automatic Data Processing were worth $2,905,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Assetmark Inc. boosted its position in Automatic Data Processing by 6.5% during the third quarter. Assetmark Inc. now owns 3,437 shares of the business services provider’s stock valued at $951,000 after purchasing an additional 211 shares during the last quarter. Wolverine Asset Management LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $1,245,000. Versor Investments LP boosted its holdings in shares of Automatic Data Processing by 36.0% in the 3rd quarter. Versor Investments LP now owns 3,400 shares of the business services provider’s stock valued at $941,000 after buying an additional 900 shares during the last quarter. Harbour Investments Inc. lifted 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 acquiring an additional 36 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC lifted its stake in Automatic Data Processing by 5.7% in the third quarter. Ashton Thomas Private Wealth LLC now owns 8,618 shares of the business services provider’s stock valued at $2,385,000 after acquiring an additional 465 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 362 shares of the business’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 completion of the transaction, the vice president now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock worth $1,762,074 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on ADP shares. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Jefferies Financial Group raised their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, UBS Group raised their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $296.18.

Automatic Data Processing Trading Up 0.6 %

Shares of Automatic Data Processing stock opened at $294.18 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The firm has a 50-day moving average of $302.30 and a 200-day moving average of $294.33. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a market cap of $119.87 billion, a PE ratio of 30.68, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.09%. 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.