Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Global Financial Private Client LLC

Global Financial Private Client LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,681 shares of the business services provider’s stock after purchasing an additional 696 shares during the period. Global Financial Private Client LLC’s holdings in Automatic Data Processing were worth $1,370,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the 2nd quarter worth $27,000. Dunhill Financial LLC grew its position in Automatic Data Processing by 346.5% in the 3rd 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 in the last quarter. Hexagon Capital Partners LLC increased its stake in shares of 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 acquiring an additional 51 shares during the period. Finally, Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the 3rd quarter valued at $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the 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 directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s 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 approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 41,062 shares of company stock valued at $12,299,550 in the last ninety days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 1.2 %

Shares of Automatic Data Processing stock opened at $290.20 on Tuesday. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The firm has a market capitalization of $118.24 billion, a PE ratio of 30.97, 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 company’s fifty day moving average price is $298.47 and its two-hundred day moving average price is $278.98.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter last year, the company earned $2.08 earnings per share. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. On average, analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Citigroup boosted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada boosted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Barclays upped their price target on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research report on Monday, November 4th. UBS Group raised their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $289.91.

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.