Flagship Wealth Advisors LLC Takes $507,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Flagship Wealth Advisors LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 1,733 shares of the business services provider's stock, valued at approximately $507,000.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $342,942,000. Proficio Capital Partners LLC grew its stake in Automatic Data Processing by 41,710.7% during the 4th quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider's stock valued at $319,199,000 after purchasing an additional 1,087,814 shares in the last quarter. Holocene Advisors LP purchased a new stake in Automatic Data Processing during the 3rd quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in Automatic Data Processing by 332.3% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider's stock worth $172,497,000 after purchasing an additional 479,145 shares during the last quarter. Finally, Amundi raised its position in shares of Automatic Data Processing by 16.8% in 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 in the last quarter. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, VP Christopher D'ambrosio sold 473 shares of Automatic Data Processing stock in a transaction on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business'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 sale, the vice president now directly owns 13,706 shares in the company, 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 ninety days, insiders have sold 5,951 shares of company stock worth $1,762,074. 0.21% of the stock is owned by company insiders.

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Analyst Upgrades and Downgrades

Several research firms recently issued reports on ADP. Royal Bank of Canada reaffirmed a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group lifted 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. Finally, UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $296.18.

Automatic Data Processing Stock Performance

Automatic Data Processing stock traded down $2.19 during mid-day trading on Friday, hitting $295.32. 3,951,110 shares of the company's stock traded hands, compared to its average volume of 1,462,870. The company has a market cap of $120.33 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm has a 50 day moving average price of $302.91 and a 200 day moving average price of $295.08.

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 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%. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The company also recently declared 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 2.09%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's payout ratio is currently 64.23%.

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.