Cornerstone Wealth Management LLC Buys 102 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Cornerstone Wealth Management LLC boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.4% in the 4th quarter, Holdings Channel reports. The firm owned 3,091 shares of the business services provider’s stock after acquiring an additional 102 shares during the quarter. Cornerstone Wealth Management LLC’s holdings in Automatic Data Processing were worth $905,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares during the last quarter. Hexagon Capital Partners LLC lifted its position in Automatic Data Processing by 78.5% in the 3rd 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 last quarter. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the 3rd quarter worth approximately $35,000. Finally, Sugar Maple Asset Management LLC bought a new stake in Automatic Data Processing in the 4th quarter worth approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $297.10 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. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The stock has a market capitalization of $121.06 billion, a PE ratio of 31.71, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The stock’s 50 day moving average price is $297.14 and its 200-day moving average price is $281.66.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the firm earned $2.08 earnings per share. The business’s revenue was up 7.1% compared to the same quarter last year. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid 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 2.07%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Insider Activity

In related news, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was 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 Automatic Data Processing stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on ADP shares. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com upgraded Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday, January 19th. Mizuho lifted their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $289.91.

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.