NewEdge Wealth LLC Buys 1,059 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

NewEdge Wealth LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,945 shares of the business services provider’s stock after purchasing an additional 1,059 shares during the period. NewEdge Wealth LLC’s holdings in Automatic Data Processing were worth $2,550,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. OFI Invest Asset Management acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $25,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing during the first quarter valued at approximately $31,000. Coppell Advisory Solutions Corp. acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $33,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $34,000. 80.03% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Automatic Data Processing news, VP David Kwon sold 863 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The disclosure for this sale can be found here. Insiders sold 16,662 shares of company stock worth $4,094,554 in the last quarter. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

ADP has been the topic of a number of recent research reports. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their target price for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Tuesday, March 19th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Finally, Mizuho lifted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $254.58.

Automatic Data Processing Stock Performance

ADP stock opened at $243.85 on Friday. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a 50 day moving average price of $247.90 and a 200 day moving average price of $239.15. Automatic Data Processing, Inc. has a fifty-two week low of $201.46 and a fifty-two week high of $256.84. The stock has a market capitalization of $100.17 billion, a PE ratio of 28.39, a price-to-earnings-growth ratio of 2.30 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted 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. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the company posted $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 year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a $1.40 dividend. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.19%.

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.