LPL Financial LLC Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

LPL Financial LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.1% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 601,025 shares of the business services provider’s stock after purchasing an additional 29,056 shares during the period. LPL Financial LLC owned approximately 0.15% of Automatic Data Processing worth $175,938,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADP. State Street Corp grew its holdings in shares of Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after buying an additional 424,328 shares during the last quarter. Geode Capital Management LLC boosted its stake in Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after purchasing an additional 286,080 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Automatic Data Processing by 1.3% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock worth $896,197,000 after purchasing an additional 41,709 shares in the last quarter. Amundi raised its stake in shares of Automatic Data Processing by 16.8% in the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after purchasing an additional 449,431 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its holdings in shares of Automatic Data Processing by 3.1% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,321,849 shares of the business services provider’s stock valued at $679,675,000 after purchasing an additional 69,042 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $298.89 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The stock has a market cap of $121.78 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 3.62 and a beta of 0.76. The company’s 50 day moving average is $303.26 and its two-hundred day moving average is $295.70.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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, research analysts anticipate 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 announced 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 annualized dividend and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. 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 report on Monday, February 3rd. UBS Group increased 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. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $296.18.

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.