Millstone Evans Group LLC Invests $1.03 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Millstone Evans Group LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,527 shares of the business services provider's stock, valued at approximately $1,032,000. Automatic Data Processing accounts for 0.7% of Millstone Evans Group LLC's portfolio, making the stock its 26th largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing in the 3rd quarter worth $26,000. Dunhill Financial LLC lifted its stake in Automatic Data Processing by 346.5% in the third 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 last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter worth approximately $41,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Automatic Data Processing stock traded up $3.03 during mid-day trading on Wednesday, reaching $302.41. 1,851,076 shares of the company's stock traded hands, compared to its average volume of 1,462,604. 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 12-month low of $231.27 and a 12-month high of $322.84. The stock has a 50 day moving average of $303.41 and a two-hundred day moving average of $295.91. The company has a market cap of $123.22 billion, a price-to-earnings ratio of 31.53, a PEG ratio of 3.62 and a beta of 0.76.

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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 earnings per share (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%. Equities analysts forecast 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. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's payout ratio is 64.23%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. StockNews.com lowered shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Jefferies Financial Group raised their price objective 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 increased their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research report on Tuesday, March 4th. Finally, Barclays boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $296.18.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now directly owns 68,856 shares of the company's stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is currently owned by insiders.

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.