HB Wealth Management LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 6.2% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 43,571 shares of the business services provider's stock after purchasing an additional 2,530 shares during the quarter. HB Wealth Management LLC's holdings in Automatic Data Processing were worth $12,755,000 at the end of the most recent reporting period.
Several other large investors have also recently modified their holdings of ADP. Accredited Investors Inc. grew its stake in shares of Automatic Data Processing by 4,431.5% during the third quarter. Accredited Investors Inc. now owns 2,315,295 shares of the business services provider's stock worth $640,712,000 after acquiring an additional 2,264,202 shares during the last quarter. International Assets Investment Management LLC grew its position in Automatic Data Processing by 28,478.6% during the 3rd quarter. International Assets Investment Management LLC now owns 1,194,587 shares of the business services provider's stock worth $3,305,780,000 after purchasing an additional 1,190,407 shares during the last quarter. Holocene Advisors LP acquired a new position in Automatic Data Processing during the 3rd quarter valued at approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund raised its holdings in shares of Automatic Data Processing by 332.3% in the third 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 buying an additional 479,145 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its stake in shares of Automatic Data Processing by 242.4% during the second quarter. Mackenzie Financial Corp now owns 644,135 shares of the business services provider's stock worth $153,749,000 after buying an additional 456,027 shares during the period. Institutional investors own 80.03% of the company's stock.
Analyst Ratings Changes
Several research firms recently issued reports on ADP. TD Cowen upped their target price 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. Mizuho raised their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research report on Monday, November 4th. Citigroup increased their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a "neutral" rating in a research report on Wednesday, September 25th. StockNews.com raised Automatic Data Processing from a "hold" rating to a "buy" rating in a report on Sunday. Finally, UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a "neutral" rating in a report on Tuesday, October 22nd. Two investment 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. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $289.91.
Read Our Latest Stock Report on ADP
Insiders Place Their Bets
In related news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company's stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of the business's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 42,129 shares of company stock valued at $12,604,872 over the last quarter. 0.21% of the stock is owned by insiders.
Automatic Data Processing Price Performance
Shares of NASDAQ:ADP traded down $0.05 during trading on Friday, reaching $296.18. The stock had a trading volume of 2,405,360 shares, compared to its average volume of 1,454,451. The business has a fifty day moving average price of $297.90 and a 200-day moving average price of $280.29. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $120.68 billion, a PE ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.
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 (EPS) for the quarter, beating analysts' consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business's revenue was up 7.1% compared to the same quarter last year. During the same period in the prior year, the business earned $2.08 earnings per share. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Automatic Data Processing Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. 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 65.74%.
Automatic Data Processing Profile
(
Free Report)
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.
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