3,653 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Brady Martz Wealth Solutions LLC

Brady Martz Wealth Solutions LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,653 shares of the business services provider's stock, valued at approximately $1,066,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the third quarter valued at $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the 2nd quarter worth about $27,000. Dunhill Financial LLC grew its stake in 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 in the last quarter. Hexagon Capital Partners LLC increased its holdings in shares of 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 valued at $32,000 after purchasing an additional 51 shares during the period. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the third quarter worth approximately $35,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

ADP stock traded down $0.05 during trading on Monday, hitting $296.18. The company had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. 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 company has a market cap of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a fifty day moving average price of $297.90 and a two-hundred day moving average price of $280.60.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing's revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.08 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.08%. Automatic Data Processing's payout ratio is presently 65.74%.

Analyst Ratings Changes

A number of brokerages recently commented on ADP. Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a research report on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a "sector perform" rating in a report on Thursday, October 31st. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Jefferies Financial Group boosted their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a "hold" rating in a research note on Tuesday, October 22nd. Finally, Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, Automatic Data Processing has an average rating of "Hold" and an average price target of $289.91.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction 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 completion of the sale, the vice president now owns 13,706 shares of the company's stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is 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.