Stonnington Group LLC Acquires 2,015 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted by admin on Mar 19th, 2023

Stonnington Group LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 12.3% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 18,427 shares of the business services provider’s stock after purchasing an additional 2,015 shares during the period. Automatic Data Processing accounts for approximately 1.2% of Stonnington Group LLC’s holdings, making the stock its 16th largest position. Stonnington Group LLC’s holdings in Automatic Data Processing were worth $4,437,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of ADP. Calamos Wealth Management LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth approximately $270,000. WealthPlan Investment Management LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth approximately $1,591,000. First Business Financial Services Inc. bought a new stake in shares of Automatic Data Processing during the third quarter worth approximately $211,000. Redwood Investment Management LLC bought a new stake in shares of Automatic Data Processing during the third quarter worth approximately $230,000. Finally, CAPROCK Group Inc. boosted its holdings in shares of Automatic Data Processing by 2.4% during the third quarter. CAPROCK Group Inc. now owns 5,518 shares of the business services provider’s stock worth $1,254,000 after acquiring an additional 128 shares during the period. Institutional investors own 79.24% of the company’s stock.

Automatic Data Processing Stock Down 1.2 %

Shares of ADP opened at $213.22 on Friday. Automatic Data Processing, Inc. has a one year low of $196.61 and a one year high of $274.92. The company has a market cap of $88.35 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.21 and a beta of 0.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a 50 day simple moving average of $226.90 and a two-hundred day simple moving average of $237.20.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. The business had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a net margin of 18.24% and a return on equity of 96.94%. The company’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.65 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 8.12 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Saturday, April 1st. Stockholders of record on Friday, March 10th will be issued a dividend of $1.25 per share. The ex-dividend date is Thursday, March 9th. This represents a $5.00 annualized dividend and a dividend yield of 2.34%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.40%.

Insider Transactions at Automatic Data Processing

In other news, VP Donald Weinstein sold 11,427 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $240.83, for a total transaction of $2,751,964.41. Following the completion of the transaction, the vice president now directly owns 32,950 shares in the company, valued at $7,935,348.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Donald Weinstein sold 11,427 shares of the company’s stock in a transaction on Tuesday, January 3rd. The shares were sold at an average price of $240.83, for a total transaction of $2,751,964.41. Following the completion of the transaction, the vice president now directly owns 32,950 shares in the company, valued at $7,935,348.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Carlos A. Rodriguez sold 37,594 shares of the company’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $241.29, for a total transaction of $9,071,056.26. Following the transaction, the insider now owns 44,481 shares of the company’s stock, valued at $10,732,820.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 106,350 shares of company stock worth $25,301,670. Corporate insiders own 0.33% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price target on shares of Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating for the company in a research report on Thursday, January 26th. Wolfe Research lifted their price target on shares of Automatic Data Processing from $220.00 to $225.00 in a research report on Thursday, January 5th. Mizuho dropped their price target on shares of Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating for the company in a research report on Thursday, January 26th. Barclays dropped their price target on shares of Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating for the company in a research report on Sunday, January 29th. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Friday, March 10th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $246.10.

Automatic Data Processing Company Profile

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Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.