PFG Investments LLC Has $681,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

PFG Investments LLC raised its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,921 shares of the business services provider’s stock after buying an additional 153 shares during the period. PFG Investments LLC’s holdings in Automatic Data Processing were worth $681,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Dash Acquisitions Inc. increased its stake in shares of Automatic Data Processing by 2.3% in the 4th quarter. Dash Acquisitions Inc. now owns 42,853 shares of the business services provider’s stock valued at $10,083,000 after acquiring an additional 963 shares during the last quarter. Assenagon Asset Management S.A. grew its holdings in Automatic Data Processing by 63.7% during the fourth quarter. Assenagon Asset Management S.A. now owns 600,943 shares of the business services provider’s stock valued at $140,002,000 after purchasing an additional 233,789 shares during the period. Sendero Wealth Management LLC increased its stake in Automatic Data Processing by 1.4% in the fourth quarter. Sendero Wealth Management LLC now owns 8,007 shares of the business services provider’s stock valued at $1,865,000 after purchasing an additional 110 shares in the last quarter. Simon Quick Advisors LLC increased its position in shares of Automatic Data Processing by 1.0% in the 4th quarter. Simon Quick Advisors LLC now owns 4,580 shares of the business services provider’s stock valued at $1,067,000 after buying an additional 47 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC raised its stake in Automatic Data Processing by 11.8% during the 4th quarter. Kingswood Wealth Advisors LLC now owns 3,251 shares of the business services provider’s stock worth $757,000 after buying an additional 343 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Activity

In other Automatic Data Processing news, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total transaction of $215,750.00. Following the sale, the vice president now directly owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP David Kwon sold 863 shares of the 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 sale, the vice president now owns 8,285 shares of the company’s stock, valued at $2,071,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ADP has been the subject of several research analyst reports. Mizuho boosted their price objective on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and increased their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Royal Bank of Canada reissued a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a report on Thursday, February 1st. Finally, Evercore ISI boosted their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $253.08.

Automatic Data Processing Price Performance

ADP stock opened at $248.33 on Thursday. Automatic Data Processing, Inc. has a 12 month low of $201.46 and a 12 month high of $256.84. The company’s 50-day moving average price is $246.22 and its two-hundred day moving average price is $238.91. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The firm has a market cap of $102.01 billion, a P/E ratio of 28.91, a P/E/G ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data 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. The business had revenue of $4.67 billion during the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the prior year, the company earned $1.96 EPS. On average, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be given a $1.40 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $5.60 annualized dividend and a yield of 2.26%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

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.