Sunburst Financial Group LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sunburst Financial Group LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADPFree Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 1,222 shares of the business services provider’s stock, valued at approximately $285,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management acquired a new position in Automatic Data Processing in the third quarter worth about $25,000. Coppell Advisory Solutions LLC acquired a new position in shares of Automatic Data Processing in the 2nd quarter worth approximately $30,000. Strategic Investment Solutions Inc. IL acquired a new stake in Automatic Data Processing in the 1st quarter valued at $31,000. Coppell Advisory Solutions Corp. bought a new stake in Automatic Data Processing in the fourth quarter valued at $33,000. Finally, DHJJ Financial Advisors Ltd. bought a new stake in Automatic Data Processing in the third quarter valued at $34,000. Institutional investors own 79.37% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on ADP shares. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Stifel Nicolaus reaffirmed a “hold” rating and set a $250.00 price target on shares of Automatic Data Processing in a report on Thursday, November 30th. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Monday. Mizuho raised their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday. Finally, Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $254.58.

Get Our Latest Research Report on Automatic Data Processing

Insider Activity

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 sale, the vice president now owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 19,906 shares in the company, valued at $4,876,970. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction on Monday, March 4th. The stock was 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 approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 16,662 shares of company stock valued at $4,094,554 in the last quarter. Company insiders own 0.26% of the company’s stock.

Automatic Data Processing Trading Down 0.5 %

ADP stock traded down $1.16 during midday trading on Friday, hitting $242.09. 11,912,115 shares of the company’s stock were exchanged, compared to its average volume of 1,962,120. Automatic Data Processing, Inc. has a one year low of $201.46 and a one year high of $256.84. The stock’s fifty day moving average price is $244.82 and its 200-day moving average price is $239.48. The company has a market cap of $99.45 billion, a PE ratio of 28.18, a price-to-earnings-growth ratio of 2.29 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.

Automatic Data Processing (NASDAQ:ADPGet Free Report) last announced its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. The business’s revenue was up 6.3% on a year-over-year basis. Research analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Friday, March 8th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.31%. The ex-dividend date of this dividend is Thursday, March 7th. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Automatic Data Processing Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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