Burling Wealth Partners LLC Invests $449,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Burling Wealth Partners LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,535 shares of the business services provider's stock, valued at approximately $449,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Virtu Financial LLC boosted its stake in Automatic Data Processing by 202.7% during the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after purchasing an additional 3,261 shares in the last quarter. Tudor Financial Inc. acquired a new position in Automatic Data Processing during the third quarter worth about $310,000. Anchor Investment Management LLC raised its position in Automatic Data Processing by 7.0% in the third quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock worth $4,257,000 after acquiring an additional 1,001 shares in the last quarter. Pine Valley Investments Ltd Liability Co lifted its holdings in Automatic Data Processing by 3.5% in the 3rd quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock valued at $2,753,000 after acquiring an additional 337 shares during the last quarter. Finally, World Investment Advisors LLC boosted its position in shares of Automatic Data Processing by 22.6% during the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock valued at $2,066,000 after purchasing an additional 1,378 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.9 %

Shares of ADP traded down $2.79 during trading hours on Friday, reaching $291.76. The company's stock had a trading volume of 1,481,853 shares, compared to its average volume of 1,684,385. The company has a 50 day moving average of $299.57 and a two-hundred day moving average of $298.52. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm has a market cap of $118.88 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. Automatic Data Processing's dividend payout ratio (DPR) is currently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the firm's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Christopher D'ambrosio sold 478 shares of the firm's stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the completion of the sale, the vice president now owns 7,364 shares in the company, valued at approximately $2,158,682.96. The trade was a 6.10 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 4,775 shares of company stock valued at $1,447,893 in the last three months. Insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ADP. Barclays increased their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research report on Thursday, January 30th. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. Finally, StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $302.30.

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.