Liberty Wealth Management LLC Has $1.37 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Liberty Wealth Management LLC boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 49.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 4,684 shares of the business services provider's stock after purchasing an additional 1,553 shares during the quarter. Liberty Wealth Management LLC's holdings in Automatic Data Processing were worth $1,371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Truvestments Capital LLC raised its holdings in Automatic Data Processing by 4.4% during the 4th quarter. Truvestments Capital LLC now owns 12,410 shares of the business services provider's stock worth $3,633,000 after purchasing an additional 521 shares during the last quarter. Austin Wealth Management LLC raised its holdings in Automatic Data Processing by 5.0% during the 4th quarter. Austin Wealth Management LLC now owns 1,204 shares of the business services provider's stock worth $357,000 after purchasing an additional 57 shares during the last quarter. Hopwood Financial Services Inc. bought a new stake in Automatic Data Processing during the 4th quarter worth about $181,000. EverSource Wealth Advisors LLC raised its holdings in Automatic Data Processing by 6.5% during the 4th quarter. EverSource Wealth Advisors LLC now owns 2,487 shares of the business services provider's stock worth $728,000 after purchasing an additional 151 shares during the last quarter. Finally, Sequoia Financial Advisors LLC raised its holdings in Automatic Data Processing by 15.9% during the 4th quarter. Sequoia Financial Advisors LLC now owns 10,355 shares of the business services provider's stock worth $3,031,000 after purchasing an additional 1,423 shares during the last quarter. 80.03% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the firm's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of 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. Over the last quarter, insiders have sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

A number of analysts have recently commented on ADP shares. Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a research note on Thursday, January 30th. UBS Group upped their price target on Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Finally, Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Automatic Data Processing currently has an average rating of "Hold" and a consensus target price of $296.18.

Remove Ads

Automatic Data Processing Stock Down 3.5 %

ADP stock opened at $292.44 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $119.16 billion, a price-to-earnings ratio of 30.49, a PEG ratio of 3.62 and a beta of 0.76. The business's fifty day moving average price is $302.27 and its two-hundred day moving average price is $294.33. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts' consensus estimates 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, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared 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. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's payout ratio is currently 64.23%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.