1900 Wealth Management LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

1900 Wealth Management LLC lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,651 shares of the business services provider’s stock after acquiring an additional 51 shares during the quarter. 1900 Wealth Management LLC’s holdings in Automatic Data Processing were worth $483,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Consolidated Portfolio Review Corp raised its position in Automatic Data Processing by 50.1% in the fourth quarter. Consolidated Portfolio Review Corp now owns 1,121 shares of the business services provider’s stock worth $328,000 after acquiring an additional 374 shares during the period. GHP Investment Advisors Inc. grew its stake in Automatic Data Processing by 0.6% during the fourth quarter. GHP Investment Advisors Inc. now owns 30,364 shares of the business services provider’s stock valued at $8,888,000 after acquiring an additional 176 shares in the last quarter. Silver Oak Securities Incorporated increased its holdings in shares of Automatic Data Processing by 72.0% in the fourth quarter. Silver Oak Securities Incorporated now owns 2,793 shares of the business services provider’s stock worth $818,000 after purchasing an additional 1,169 shares during the last quarter. Geneva Partners LLC bought a new stake in Automatic Data Processing in the 4th quarter worth approximately $1,243,000. Finally, Tyche Wealth Partners LLC raised its stake in Automatic Data Processing by 108.8% during the fourth quarter. Tyche Wealth Partners LLC now owns 6,024 shares of the business services provider’s stock valued at $1,763,000 after purchasing an additional 3,139 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the business’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 value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, 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 filing with the Securities & Exchange Commission, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock worth $1,617,241 in the last three months. Company insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on ADP shares. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Up 0.3 %

Shares of ADP stock opened at $308.97 on Friday. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $311.67. The stock’s 50-day simple moving average is $297.17 and its 200-day simple moving average is $285.83. 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 market capitalization of $125.89 billion, a PE ratio of 32.22, a P/E/G ratio of 3.52 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities 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 announced 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 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

About Automatic Data Processing

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.