Diversify Wealth Management LLC Purchases 5,712 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Diversify Wealth Management LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 102.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,282 shares of the business services provider's stock after buying an additional 5,712 shares during the period. Diversify Wealth Management LLC's holdings in Automatic Data Processing were worth $3,236,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $26,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider's stock valued at $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC raised its holdings in Automatic Data Processing by 78.5% during the third 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 position in shares of Automatic Data Processing in the third quarter valued at $35,000. Finally, Kieckhefer Group LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $42,000. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

Shares of NASDAQ:ADP traded down $0.05 during midday trading on Monday, reaching $296.18. The company had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The company's 50 day moving average price is $297.90 and its 200 day moving average price is $280.60. The stock 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. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 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 business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter in the prior year, the business earned $2.08 earnings per share. Automatic Data Processing's revenue for the quarter was up 7.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

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

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP David Foskett sold 1,067 shares of the business's stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 42,129 shares of company stock worth $12,604,872. Company insiders own 0.21% of the company's stock.

Wall Street Analyst Weigh In

ADP has been the topic of a number of analyst reports. Royal Bank of Canada upped their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a report on Thursday, October 31st. Barclays increased their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an "overweight" rating in a research note on Monday, November 4th. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an "outperform" rating in a research report on Monday, November 4th. TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a "hold" rating in a research report on Friday, November 1st. Finally, Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a report on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price 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.