Xponance Inc. Raises Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Xponance Inc. lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 2.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 94,524 shares of the business services provider's stock after acquiring an additional 2,556 shares during the period. Xponance Inc.'s holdings in Automatic Data Processing were worth $27,670,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ADP. AMG National Trust Bank lifted its position in Automatic Data Processing by 0.3% during the 4th quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider's stock valued at $3,318,000 after acquiring an additional 33 shares during the period. Aspiriant LLC lifted its position in Automatic Data Processing by 1.5% during the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider's stock valued at $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC lifted its position in Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider's stock valued at $1,466,000 after acquiring an additional 36 shares during the period. Riversedge Advisors LLC lifted its position in Automatic Data Processing by 4.2% during the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider's stock valued at $268,000 after acquiring an additional 37 shares during the period. Finally, Gilbert & Cook Inc. lifted its position in Automatic Data Processing by 2.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,842 shares of the business services provider's stock valued at $539,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is owned by institutional investors.

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Automatic Data Processing Stock Performance

Shares of ADP stock traded down $2.19 during trading hours on Friday, reaching $295.32. The company had a trading volume of 3,951,110 shares, compared to its average volume of 1,460,596. The business has a fifty day moving average price of $303.08 and a 200-day moving average price of $295.22. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The firm has a market cap of $120.33 billion, a PE ratio of 30.79, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating 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%. Sell-side 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 firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.09%. Automatic Data Processing's dividend payout ratio (DPR) is 64.23%.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business's 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 completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Maria Black sold 721 shares of the business's stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company's stock, valued at $20,077,721.04. This trade represents a 1.04 % 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 worth $1,762,074. 0.21% of the stock is owned by company insiders.

Analysts Set New Price Targets

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

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.