6,601 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by Sagespring Wealth Partners LLC

Sagespring Wealth Partners LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 6,601 shares of the business services provider's stock, valued at approximately $1,932,000.

Several other institutional investors have also recently bought and sold shares of the company. Virtu Financial LLC boosted its position in Automatic Data Processing by 202.7% in the third quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after buying an additional 3,261 shares in the last quarter. Tudor Financial Inc. acquired a new stake in shares of Automatic Data Processing in the third quarter valued at $310,000. Anchor Investment Management LLC raised its holdings in shares of Automatic Data Processing by 7.0% in the third quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock valued at $4,257,000 after buying an additional 1,001 shares during the last quarter. Pine Valley Investments Ltd Liability Co lifted its position in shares of Automatic Data Processing by 3.5% during the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock worth $2,753,000 after purchasing an additional 337 shares in the last quarter. Finally, World Investment Advisors LLC lifted its holdings in Automatic Data Processing by 22.6% during the 3rd quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock worth $2,066,000 after buying an additional 1,378 shares in the last quarter. Institutional investors own 80.03% of the company's stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on ADP. StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. Royal Bank of Canada reissued a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays raised their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Finally, UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $302.30.

Insider Activity

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company's stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Christopher D'ambrosio sold 473 shares of the stock in a transaction dated Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the transaction, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,775 shares of company stock valued at $1,447,893. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Down 0.3 %

Shares of ADP traded down $0.86 during trading hours on Friday, reaching $293.28. The stock had a trading volume of 1,667,100 shares, compared to its average volume of 1,676,839. The firm has a 50-day moving average of $301.52 and a 200 day moving average of $298.01. 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 $119.50 billion, a P/E ratio of 30.58, a P/E/G ratio of 3.62 and a beta of 0.74. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last issued its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's payout ratio is presently 64.23%.

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.