Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Purchased by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 55.5% during the fourth quarter, Holdings Channel reports. The institutional investor owned 7,366 shares of the business services provider’s stock after buying an additional 2,629 shares during the period. Wealthspire Advisors LLC’s holdings in Automatic Data Processing were worth $1,716,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of ADP. OFI Invest Asset Management acquired a new position in shares of Automatic Data Processing in the third quarter valued at approximately $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing during the 4th quarter worth $35,000. Evolution Advisers Inc. acquired a new stake in shares of Automatic Data Processing in the 4th quarter worth $41,000. Raleigh Capital Management Inc. increased its stake in shares of Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the period. Finally, Bfsg LLC purchased a new position in Automatic Data Processing during the fourth quarter worth about $42,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 694 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The disclosure for this sale can be found here. Insiders have sold a total of 2,966 shares of company stock worth $749,524 in the last three months. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of ADP traded up $2.21 during trading hours on Thursday, reaching $245.15. 1,020,238 shares of the company traded hands, compared to its average volume of 1,765,245. The stock has a fifty day simple moving average of $245.12 and a 200 day simple moving average of $238.97. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84. The stock has a market capitalization of $100.34 billion, a PE ratio of 27.36, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period in the previous year, the firm posted $2.52 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. JPMorgan Chase & Co. dropped their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. TD Cowen decreased their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating on the stock in a research report on Thursday, May 2nd. Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two investment 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’s stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and a consensus price target of $255.42.

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.