Ethos Financial Group LLC Purchases 368 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Ethos Financial Group LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.2% during the 4th quarter, Holdings Channel reports. The fund owned 2,388 shares of the business services provider’s stock after buying an additional 368 shares during the quarter. Ethos Financial Group LLC’s holdings in Automatic Data Processing were worth $560,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Vestor Capital LLC bought a new position in Automatic Data Processing in the fourth quarter valued at approximately $44,000. Zevin Asset Management LLC increased its holdings in Automatic Data Processing by 2.7% during the fourth quarter. Zevin Asset Management LLC now owns 97,397 shares of the business services provider’s stock worth $22,690,000 after buying an additional 2,527 shares during the last quarter. US Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $1,349,000. Breed s Hill Capital LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $444,000. Finally, Wealthspire Advisors LLC boosted its position in Automatic Data Processing by 55.5% during the fourth quarter. Wealthspire Advisors LLC now owns 7,366 shares of the business services provider’s stock worth $1,716,000 after purchasing an additional 2,629 shares during the period. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Evercore ISI lifted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Mizuho lifted their price objective 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. JPMorgan Chase & Co. reduced their price objective on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. Finally, TD Cowen reduced their price objective on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $255.42.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 368 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold 2,966 shares of company stock worth $749,524 over the last ninety days. Corporate insiders own 0.26% of the company’s stock.

Automatic Data Processing Price Performance

ADP traded up $2.21 on Thursday, hitting $245.15. 1,020,238 shares of the stock were exchanged, compared to its average volume of 1,765,245. The firm has a market capitalization of $100.34 billion, a price-to-earnings ratio of 27.36, a PEG ratio of 2.30 and a beta of 0.78. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.01 and a quick ratio of 1.01. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The business has a 50-day moving average of $245.12 and a two-hundred day moving average of $238.97.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.79 by $0.09. The firm had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the prior year, the company posted $2.52 earnings per share. Sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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 paid a dividend of $1.40 per share. The ex-dividend date of this dividend is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.28%. Automatic Data Processing’s payout ratio is 62.50%.

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.