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

Signaturefd LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,754 shares of the business services provider’s stock after purchasing an additional 277 shares during the period. Signaturefd LLC’s holdings in Automatic Data Processing were worth $1,573,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ardent Capital Management Inc. acquired a new position in shares of Automatic Data Processing during the third quarter worth $392,000. Americana Partners LLC boosted its stake in Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after acquiring an additional 660 shares in the last quarter. Everence Capital Management Inc. boosted its stake in Automatic Data Processing by 28.5% in the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after acquiring an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC boosted its stake in Automatic Data Processing by 36.7% in the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new position in Automatic Data Processing in the fourth quarter valued at $1,635,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have issued reports on ADP. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Mizuho upped their price objective 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. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the company from $217.00 to $243.00 in a research note on Wednesday, January 17th. Finally, Evercore ISI increased their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two research 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. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $254.58.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Don Mcguire sold 11,333 shares of the stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value 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 $4,876,970. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred 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 $4,876,970. The disclosure for this sale can be found here. Over the last three months, insiders sold 15,162 shares of company stock valued at $3,741,859. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Up 0.5 %

NASDAQ ADP opened at $243.31 on Monday. The stock has a market capitalization of $99.95 billion, a P/E ratio of 28.32, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 52-week low of $201.46 and a 52-week high of $256.84. The firm has a 50-day moving average price of $247.22 and a 200 day moving average price of $239.19. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The firm’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 posted $1.96 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. 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.