Tennessee Valley Asset Management Partners Acquires Shares of 645 Automatic Data Processing, Inc. (NASDAQ:ADP)

Tennessee Valley Asset Management Partners acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 645 shares of the business services provider’s stock, valued at approximately $150,000.

A number of other institutional investors also recently bought and sold shares of the business. Perigon Wealth Management LLC grew its holdings in Automatic Data Processing by 0.3% during the 4th quarter. Perigon Wealth Management LLC now owns 19,366 shares of the business services provider’s stock worth $4,512,000 after acquiring an additional 53 shares in the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Valeo Financial Advisors LLC now owns 7,286 shares of the business services provider’s stock valued at $1,697,000 after purchasing an additional 109 shares during the period. Sapient Capital LLC bought a new stake in Automatic Data Processing during the fourth quarter worth approximately $727,000. Cerity Partners LLC raised its stake in shares of Automatic Data Processing by 23.6% in the 4th quarter. Cerity Partners LLC now owns 156,652 shares of the business services provider’s stock worth $36,541,000 after buying an additional 29,894 shares in the last quarter. Finally, GHP Investment Advisors Inc. raised its position in Automatic Data Processing by 0.3% in the fourth quarter. GHP Investment Advisors Inc. now owns 29,058 shares of the business services provider’s stock worth $6,770,000 after acquiring an additional 76 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ADP shares. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Evercore ISI lifted their price target on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. Bank of America upgraded 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 report 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. Finally, Mizuho boosted their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $254.58.

Insider Activity

In related news, VP Don Mcguire sold 11,333 shares of the company’s 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 completion of the transaction, the vice president now directly owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, VP Sreenivasa Kutam sold 694 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now directly owns 20,687 shares in the company, valued at approximately $5,159,958.41. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred 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 completion of the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 15,162 shares of company stock worth $3,741,859. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $246.31 on Tuesday. The company has a market cap of $101.18 billion, a P/E ratio of 28.67, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a fifty day simple moving average of $247.15 and a 200 day simple moving average of $239.21.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.10 by $0.03. The company had revenue of $4.67 billion for 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%. The firm’s revenue was up 6.3% compared to the same quarter last year. During the same period last year, the business posted $1.96 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be given a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Automatic Data Processing Company 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.