Automatic Data Processing, Inc. (NASDAQ:ADP) is Rowlandmiller & PARTNERS.ADV’s 4th Largest Position

Rowlandmiller & PARTNERS.ADV lowered its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,434 shares of the business services provider’s stock after selling 1,273 shares during the period. Automatic Data Processing makes up 3.8% of Rowlandmiller & PARTNERS.ADV’s portfolio, making the stock its 4th biggest position. Rowlandmiller & PARTNERS.ADV’s holdings in Automatic Data Processing were worth $18,277,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of ADP. Dover Advisors LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $211,000. Partners Wealth Management LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $356,000. Union Bancaire Privee UBP SA acquired a new position in shares of Automatic Data Processing in the fourth quarter worth $1,721,000. MONECO Advisors LLC increased its stake in shares of Automatic Data Processing by 0.6% in the fourth quarter. MONECO Advisors LLC now owns 11,469 shares of the business services provider’s stock worth $3,357,000 after acquiring an additional 65 shares during the last quarter. Finally, Forvis Mazars Wealth Advisors LLC increased its stake in shares of Automatic Data Processing by 5.8% in the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 3,740 shares of the business services provider’s stock worth $1,095,000 after acquiring an additional 204 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.4 %

Shares of NASDAQ:ADP opened at $310.76 on Monday. The company has a market cap of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79. The stock’s 50-day moving average is $298.72 and its 200-day moving average is $290.54. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $313.72. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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 research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm 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 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were 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 owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,004 shares of the stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the sale, the vice president now owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. The trade was a 14.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ADP shares. Barclays upped 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. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. TD Cowen upped their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada reissued 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, Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $293.55.

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.