Cedar Brook Financial Partners LLC Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Cedar Brook Financial Partners LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) by 21.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,612 shares of the business services provider’s stock after acquiring an additional 287 shares during the quarter. Cedar Brook Financial Partners LLC’s holdings in Automatic Data Processing were worth $379,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of ADP. Moneta Group Investment Advisors LLC increased its position in shares of Automatic Data Processing by 94,265.5% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 6,770,728 shares of the business services provider’s stock valued at $1,617,256,000 after buying an additional 6,763,553 shares in the last quarter. Norges Bank acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth approximately $531,416,000. Veritas Asset Management LLP acquired a new stake in shares of Automatic Data Processing in the second quarter worth approximately $375,485,000. Imprint Wealth LLC boosted its stake in shares of Automatic Data Processing by 24,743.9% in the second quarter. Imprint Wealth LLC now owns 987,795 shares of the business services provider’s stock worth $98,780,000 after acquiring an additional 983,819 shares during the last quarter. Finally, Invesco Ltd. boosted its stake in shares of Automatic Data Processing by 40.7% in the third quarter. Invesco Ltd. now owns 3,128,701 shares of the business services provider’s stock worth $752,703,000 after acquiring an additional 905,043 shares during the last quarter. 79.37% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on ADP shares. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. Bank of America raised Automatic Data Processing from an “underperform” rating to a “neutral” rating and boosted their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $254.58.

View Our Latest Analysis on Automatic Data Processing

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $247.61 on Friday. The stock’s 50-day moving average is $245.62 and its two-hundred day moving average is $239.22. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84. The company has a market cap of $101.72 billion, a price-to-earnings ratio of 28.83, a price-to-earnings-growth ratio of 2.33 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter in the prior year, the business earned $1.96 EPS. Automatic Data Processing’s revenue was up 6.3% on a year-over-year basis. Analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be issued a dividend of $1.40 per share. The ex-dividend date is Thursday, March 7th. This represents a $5.60 annualized dividend and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP David Kwon sold 863 shares of the company’s stock in a transaction dated Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total value of $215,750.00. Following the transaction, the vice president now directly owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is currently owned by corporate insiders.

Automatic Data Processing Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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