Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Mitchell & Pahl Private Wealth LLC

Mitchell & Pahl Private Wealth LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,604 shares of the business services provider’s stock after acquiring an additional 382 shares during the period. Automatic Data Processing accounts for about 1.2% of Mitchell & Pahl Private Wealth LLC’s investment portfolio, making the stock its 24th largest position. Mitchell & Pahl Private Wealth LLC’s holdings in Automatic Data Processing were worth $2,519,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp grew its position in shares of Automatic Data Processing by 2.4% in the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares during the last quarter. Geode Capital Management LLC grew its holdings in Automatic Data Processing by 2.8% during the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after buying an additional 286,080 shares during the last quarter. Ameriprise Financial Inc. increased its position in Automatic Data Processing by 12.0% during the second quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after buying an additional 435,093 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Automatic Data Processing by 4.1% in the second quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Automatic Data Processing by 1.3% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after acquiring an additional 41,709 shares in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the subject of several analyst reports. UBS Group boosted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Citigroup boosted 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. TD Cowen raised their target price 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. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. Finally, Royal Bank of Canada raised 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. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, 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 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 ninety days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 0.0 %

ADP stock opened at $296.18 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79. The business has a fifty day simple moving average of $297.90 and a 200-day simple moving average of $280.60. 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 announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. The company had revenue of $4.83 billion during 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 was up 7.1% on a year-over-year basis. During the same period in the prior year, the firm posted $2.08 earnings per share. On average, equities research 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 declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing’s payout ratio is 65.74%.

About Automatic Data Processing

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.