Jamison Private Wealth Management Inc. Grows Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Jamison Private Wealth Management Inc. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.5% in the fourth quarter, Holdings Channel reports. The firm owned 29,519 shares of the business services provider’s stock after purchasing an additional 160 shares during the period. Automatic Data Processing makes up about 1.3% of Jamison Private Wealth Management Inc.’s investment portfolio, making the stock its 26th biggest position. Jamison Private Wealth Management Inc.’s holdings in Automatic Data Processing were worth $8,641,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Tower Wealth Partners Inc. boosted its stake in shares of Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the period. Harbour Investments Inc. grew its stake in shares of Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock valued at $482,000 after acquiring an additional 36 shares in the last quarter. Aspiriant LLC increased its position in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the last quarter. Precedent Wealth Partners LLC lifted its stake in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Finally, Petredis Investment Advisors LLC boosted its holdings in Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock valued at $2,902,000 after purchasing an additional 37 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. Insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on ADP. Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Jefferies Financial Group upped their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, 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. Two 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 stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Stock Up 0.4 %

NASDAQ:ADP opened at $297.10 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a 50 day moving average of $297.13 and a 200-day moving average of $282.10. The firm 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. 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 issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate 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 business earned $2.08 EPS. Analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current 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 dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

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.