Thrive Wealth Management LLC Has $366,000 Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Thrive Wealth Management LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.0% during the fourth quarter, HoldingsChannel.com reports. The fund owned 1,250 shares of the business services provider’s stock after buying an additional 82 shares during the quarter. Thrive Wealth Management LLC’s holdings in Automatic Data Processing were worth $366,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing in the 3rd quarter valued at $209,000. Nomura Asset Management Co. Ltd. raised its stake in shares of Automatic Data Processing by 5.8% during the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares during the last quarter. RIA Advisory Group LLC bought a new position in Automatic Data Processing in the third quarter worth about $470,000. Dash Acquisitions Inc. raised its stake in Automatic Data Processing by 5.6% in the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after buying an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC bought a new position in Automatic Data Processing in the third quarter worth about $951,000. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 over the last ninety days. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on ADP shares. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $296.18 on Monday. The firm’s fifty day moving average price is $297.90 and its 200 day moving average price is $280.29. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

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, beating analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the company posted $2.08 EPS. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio 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.