Wealthspire Advisors LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Wealthspire Advisors LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 55.5% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 7,366 shares of the business services provider’s stock after buying an additional 2,629 shares during the quarter. Wealthspire Advisors LLC’s holdings in Automatic Data Processing were worth $1,716,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the company. Park Avenue Securities LLC boosted its position in shares of Automatic Data Processing by 0.7% during the third quarter. Park Avenue Securities LLC now owns 11,842 shares of the business services provider’s stock valued at $2,849,000 after purchasing an additional 87 shares in the last quarter. Gratus Capital LLC grew its holdings in Automatic Data Processing by 6.2% during the third quarter. Gratus Capital LLC now owns 6,136 shares of the business services provider’s stock valued at $1,476,000 after purchasing an additional 360 shares during the period. TIAA Trust National Association purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $9,524,000. Dubuque Bank & Trust Co purchased a new stake in shares of Automatic Data Processing in the third quarter worth $202,000. Finally, Lafayette Investments Inc. raised its holdings in Automatic Data Processing by 2.9% during the third quarter. Lafayette Investments Inc. now owns 3,159 shares of the business services provider’s stock valued at $760,000 after acquiring an additional 89 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on ADP. Mizuho boosted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI boosted 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 report on Tuesday, March 26th. TD Cowen decreased their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday, May 2nd. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Barclays increased their price target on shares of Automatic Data Processing from $280.00 to $282.00 and gave the stock an “overweight” rating in a report on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Stock Up 0.9 %

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

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 the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. The business had revenue of $5.30 billion for the quarter, compared to the consensus estimate of $5.22 billion. During the same quarter last year, the company posted $2.52 earnings per share. Automatic Data Processing’s quarterly revenue was up 7.6% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.15 earnings per share 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. Investors 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 yield of 2.28%. Automatic Data Processing’s payout ratio is 62.50%.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction on Friday, March 1st. The shares were 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 of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Automatic Data Processing 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 owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. 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. Company insiders own 0.26% of the company’s stock.

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.