Websterrogers Financial Advisors LLC Makes New $327,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Websterrogers Financial Advisors LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 1,115 shares of the business services provider's stock, valued at approximately $327,000.

A number of other institutional investors have also recently modified their holdings of ADP. Tower Wealth Partners Inc. lifted its position in Automatic Data Processing by 3.4% in the 3rd 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 in the last quarter. Harbour Investments Inc. raised its stake in shares of 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 purchasing an additional 36 shares during the last quarter. Petredis Investment Advisors LLC lifted its holdings in shares of Automatic Data Processing by 0.4% during the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider's stock valued at $2,902,000 after purchasing an additional 37 shares in the last quarter. Moors & Cabot Inc. boosted its position in shares of Automatic Data Processing by 0.7% during the second quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider's stock valued at $1,360,000 after buying an additional 39 shares during the last quarter. Finally, Austin Private Wealth LLC increased its holdings in Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider's stock worth $255,000 after buying an additional 39 shares in the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ADP has been the subject of a number of research analyst reports. Royal Bank of Canada lifted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a "sector perform" rating in a research note on Thursday, October 31st. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, October 22nd. StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Saturday, January 11th. TD Cowen lifted their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a "hold" rating in a report on Friday, November 1st. Finally, Barclays increased their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an "overweight" rating in a report on Monday, November 4th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of "Hold" and a consensus target price of $289.91.

Automatic Data Processing Stock Performance

ADP traded up $2.86 during midday trading on Thursday, reaching $296.23. The company had a trading volume of 1,667,520 shares, compared to its average volume of 1,641,862. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market cap of $120.70 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. The business has a 50-day moving average of $298.24 and a two-hundred day moving average of $279.45.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts' consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion for the quarter, compared to analysts' expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm's revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 EPS. 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 Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing's dividend payout ratio is currently 65.74%.

Insider Buying and Selling at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company's stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred 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 sale, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock valued at $12,604,872 over the last ninety days. 0.21% of the stock is currently owned by company 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.