2,993 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by PUREfi Wealth LLC

PUREfi Wealth LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,993 shares of the business services provider's stock, valued at approximately $876,000. Automatic Data Processing makes up approximately 0.9% of PUREfi Wealth LLC's investment portfolio, making the stock its 22nd biggest holding.

Several other institutional investors have also recently made changes to their positions in ADP. Tower Wealth Partners Inc. grew its position in Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider's stock valued at $292,000 after acquiring an additional 35 shares during the last quarter. Harbour Investments Inc. lifted its stake in Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider's stock worth $482,000 after acquiring an additional 36 shares during the period. Aspiriant LLC lifted its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock worth $694,000 after purchasing an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its holdings in Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock worth $1,466,000 after buying an additional 36 shares during the period. Finally, Riversedge Advisors LLC raised its position in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock worth $268,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.

Automatic Data Processing Stock Performance

ADP traded up $3.27 during midday trading on Wednesday, reaching $313.22. The company had a trading volume of 1,407,682 shares, compared to its average volume of 1,615,934. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $313.72. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $127.62 billion, a P/E ratio of 32.66, a P/E/G ratio of 3.59 and a beta of 0.79. The business has a 50-day moving average of $297.93 and a two-hundred day moving average of $289.42.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, equities research analysts predict 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. Stockholders 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 dividend yield of 1.97%. Automatic Data Processing's payout ratio is 64.23%.

Analyst Ratings Changes

A number of brokerages have weighed in on ADP. StockNews.com cut shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a "neutral" rating in a report on Tuesday, October 22nd. Royal Bank of Canada restated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, Jefferies Financial Group increased 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, January 30th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $293.55.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 362 shares of the 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 transaction, the vice president now owns 13,706 shares of the company's stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now owns 3,063 shares of the company's stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

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.