Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 121.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 14,391 shares of the business services provider’s stock after purchasing an additional 7,894 shares during the period. Sequoia Financial Advisors LLC’s holdings in Automatic Data Processing were worth $3,353,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ADP. Turtle Creek Wealth Advisors LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $67,000. Strategic Blueprint LLC lifted its stake in Automatic Data Processing by 8.3% during the 4th quarter. Strategic Blueprint LLC now owns 4,153 shares of the business services provider’s stock worth $968,000 after acquiring an additional 318 shares in the last quarter. Bleakley Financial Group LLC lifted its stake in Automatic Data Processing by 5.8% during the 4th quarter. Bleakley Financial Group LLC now owns 15,771 shares of the business services provider’s stock worth $3,674,000 after acquiring an additional 863 shares in the last quarter. Investment Partners Asset Management Inc. purchased a new stake in Automatic Data Processing during the 4th quarter worth about $478,000. Finally, Meeder Advisory Services Inc. increased its holdings in Automatic Data Processing by 40.9% during the 4th quarter. Meeder Advisory Services Inc. now owns 9,908 shares of the business services provider’s stock worth $2,308,000 after purchasing an additional 2,878 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.6 %

ADP opened at $244.42 on Friday. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The company has a market cap of $100.41 billion, a P/E ratio of 28.45, a PEG ratio of 2.32 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $248.00 and its 200-day simple moving average is $239.11.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. During the same quarter last year, the business posted $1.96 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.29%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the firm’s stock in a transaction on 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 owns 19,906 shares of the company’s stock, valued at $4,876,970. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Ayala sold 1,500 shares of Automatic Data Processing stock in a transaction on Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total value of $352,695.00. Following the completion of the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 16,662 shares of company stock valued at $4,094,554. 0.26% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the stock from $217.00 to $243.00 in a report on Wednesday, January 17th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Mizuho upped their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, March 11th. Finally, Evercore ISI upped their price target on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a report on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $254.58.

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.