JGP Wealth Management LLC Has $20.13 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

JGP Wealth Management LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 68,760 shares of the business services provider’s stock after acquiring an additional 405 shares during the quarter. Automatic Data Processing comprises 2.6% of JGP Wealth Management LLC’s holdings, making the stock its 7th biggest position. JGP Wealth Management LLC’s holdings in Automatic Data Processing were worth $20,128,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in shares of Automatic Data Processing in the second quarter worth $27,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its position in shares of Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing during the third quarter worth $35,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Citigroup increased their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday, January 11th. Finally, TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 over the last three months. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Up 1.0 %

Automatic Data Processing stock opened at $296.23 on Friday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day simple moving average is $298.24 and its 200-day simple moving average is $279.45. The firm has a market capitalization of $120.70 billion, a PE ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.08 earnings per share. Equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Automatic Data Processing 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.