Automatic Data Processing, Inc. (NASDAQ:ADP) Position Lifted by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 848 shares of the business services provider’s stock after purchasing an additional 49 shares during the quarter. Ashton Thomas Securities LLC’s holdings in Automatic Data Processing were worth $249,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of ADP. Modern Wealth Management LLC lifted its holdings in shares of Automatic Data Processing by 126.2% in the 4th quarter. Modern Wealth Management LLC now owns 3,223 shares of the business services provider’s stock worth $989,000 after purchasing an additional 1,798 shares during the last quarter. CoreFirst Bank & Trust acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $535,000. Sheets Smith Investment Management acquired a new position in Automatic Data Processing during the 4th quarter worth $1,274,000. Woodmont Investment Counsel LLC increased its stake in Automatic Data Processing by 1.8% during the 4th quarter. Woodmont Investment Counsel LLC now owns 4,335 shares of the business services provider’s stock valued at $1,269,000 after buying an additional 75 shares during the period. Finally, Congress Wealth Management LLC DE lifted its stake in shares of Automatic Data Processing by 54.2% in the 4th quarter. Congress Wealth Management LLC DE now owns 13,235 shares of the business services provider’s stock worth $3,875,000 after acquiring an additional 4,654 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analysts Set New Price Targets

ADP has been the subject of several research reports. Barclays raised their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group raised their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $296.18.

Automatic Data Processing Stock Up 0.2 %

Shares of Automatic Data Processing stock opened at $299.38 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $322.84. The stock has a 50-day simple moving average of $303.41 and a 200-day simple moving average of $295.91. The firm has a market cap of $121.98 billion, a price-to-earnings ratio of 31.22, a P/E/G ratio of 3.62 and a beta of 0.76.

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

Automatic Data Processing Announces Dividend

The firm also recently disclosed 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. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total value of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was 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. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock worth $1,762,074 over the last three months. 0.21% of the stock is currently owned by insiders.

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.