Perigon Wealth Management LLC Has $9.16 Million Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Perigon Wealth Management LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 33.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,926 shares of the business services provider's stock after acquiring an additional 7,734 shares during the quarter. Perigon Wealth Management LLC's holdings in Automatic Data Processing were worth $9,161,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the 3rd quarter valued at $26,000. Dunhill Financial LLC lifted its holdings in shares of 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 buying an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its stake 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 valued at $32,000 after buying an additional 51 shares in the last quarter. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter worth about $35,000. Institutional investors own 80.03% of the company's stock.

Automatic Data Processing Stock Down 0.1 %

Automatic Data Processing stock traded down $0.26 during mid-day trading on Friday, hitting $303.00. The company's stock had a trading volume of 766,182 shares, compared to its average volume of 1,666,732. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The company has a market cap of $123.46 billion, a PE ratio of 31.60, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm's 50 day moving average is $297.20 and its 200 day moving average is $283.90.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted 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 net margin of 19.76% and a return on equity of 81.85%. On average, 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. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.03%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing's dividend payout ratio (DPR) is presently 64.23%.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of the stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total transaction of $290,447.16. Following the transaction, the vice president now directly owns 5,958 shares of the company's stock, valued at $1,723,589.82. This represents a 14.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the business's stock in a transaction dated 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 sale, the vice president now directly owns 13,706 shares of the company's stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on ADP. Mizuho lifted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an "outperform" rating in a research note on Monday, November 4th. 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 report on Thursday. StockNews.com lowered Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Monday. TD Cowen boosted their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a research report on Friday, November 1st. Finally, Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. Two 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. Based on data from MarketBeat, Automatic Data Processing currently has an average rating of "Hold" and a consensus price target of $291.27.

Automatic Data Processing 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.