Automatic Data Processing, Inc. (NASDAQ:ADP) Stake Boosted by Prestige Wealth Management Group LLC

Prestige Wealth Management Group LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% during the 4th quarter, HoldingsChannel reports. The firm owned 5,603 shares of the business services provider’s stock after acquiring an additional 278 shares during the period. Prestige Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $1,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in ADP. Larson Financial Group LLC increased its stake in shares of Automatic Data Processing by 28.1% during the third quarter. Larson Financial Group LLC now owns 2,139 shares of the business services provider’s stock valued at $592,000 after acquiring an additional 469 shares during the period. Summit Trail Advisors LLC boosted its stake in Automatic Data Processing by 37.6% during the 3rd quarter. Summit Trail Advisors LLC now owns 7,109 shares of the business services provider’s stock valued at $1,977,000 after purchasing an additional 1,942 shares in the last quarter. Daiwa Securities Group Inc. increased its position in shares of Automatic Data Processing by 12.0% during the 3rd quarter. Daiwa Securities Group Inc. now owns 82,736 shares of the business services provider’s stock valued at $22,896,000 after purchasing an additional 8,846 shares during the period. Douglass Winthrop Advisors LLC raised its stake in shares of Automatic Data Processing by 1.5% in the 3rd quarter. Douglass Winthrop Advisors LLC now owns 24,489 shares of the business services provider’s stock worth $6,777,000 after buying an additional 360 shares in the last quarter. Finally, Dynamic Technology Lab Private Ltd lifted its holdings in shares of Automatic Data Processing by 10.4% in the third quarter. Dynamic Technology Lab Private Ltd now owns 5,728 shares of the business services provider’s stock valued at $1,585,000 after buying an additional 540 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $298.89 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company has a market capitalization of $121.78 billion, a price-to-earnings ratio of 31.17, a P/E/G ratio of 3.62 and a beta of 0.76. The business’s 50-day moving average is $303.26 and its 200-day moving average is $295.70. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.06%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 in the last three months. Insiders own 0.21% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays increased their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. 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 stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $296.18.

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.