CreativeOne Wealth LLC Acquires 4,394 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

CreativeOne Wealth LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 63.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 11,370 shares of the business services provider's stock after purchasing an additional 4,394 shares during the quarter. CreativeOne Wealth LLC's holdings in Automatic Data Processing were worth $3,328,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank bought a new stake in Automatic Data Processing during the 4th quarter worth approximately $455,993,000. Winslow Capital Management LLC bought a new stake in shares of Automatic Data Processing in the fourth quarter worth $396,714,000. Raymond James Financial Inc. bought a new position in Automatic Data Processing during the 4th quarter worth $342,942,000. Proficio Capital Partners LLC boosted its holdings in Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after acquiring an additional 1,087,814 shares during the last quarter. Finally, Amundi increased its position in Automatic Data Processing by 16.8% during the 4th quarter. Amundi now owns 3,120,039 shares of the business services provider's stock valued at $910,972,000 after purchasing an additional 449,431 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on ADP shares. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. 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 research report on Tuesday, March 4th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Finally, Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and an average price target of $302.30.

Insider Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the transaction, the vice president now directly owns 12,073 shares of the company's stock, valued at approximately $3,686,852.74. This trade represents a 11.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,775 shares of company stock valued at $1,447,893 in the last ninety days. 0.21% of the stock is currently owned by insiders.

Automatic Data Processing Stock Down 0.3 %

Shares of Automatic Data Processing stock traded down $0.86 during trading hours on Friday, reaching $293.28. The company's stock had a trading volume of 1,667,100 shares, compared to its average volume of 1,676,839. The company has a market capitalization of $119.50 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.62 and a beta of 0.74. The stock's fifty day simple moving average is $301.52 and its two-hundred day simple moving average is $298.01. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

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

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is 64.23%.

Automatic Data Processing 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.