Automatic Data Processing, Inc. (NASDAQ:ADP) Holdings Raised by Bartlett & CO. Wealth Management LLC

Bartlett & CO. Wealth Management LLC increased its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,256 shares of the business services provider’s stock after purchasing an additional 1,882 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Automatic Data Processing were worth $29,208,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. raised its position in shares of Automatic Data Processing by 1.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after purchasing an additional 436 shares during the period. Public Sector Pension Investment Board grew its stake in Automatic Data Processing by 71.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after buying an additional 6,439 shares during the last quarter. Magnetar Financial LLC acquired a new stake in Automatic Data Processing in the second quarter worth $203,000. Evergreen Capital Management LLC lifted its stake in Automatic Data Processing by 2.8% in the second quarter. Evergreen Capital Management LLC now owns 6,683 shares of the business services provider’s stock valued at $1,604,000 after buying an additional 183 shares during the last quarter. Finally, Mill Creek Capital Advisors LLC lifted its stake in Automatic Data Processing by 5.4% in the second quarter. Mill Creek Capital Advisors LLC now owns 1,673 shares of the business services provider’s stock valued at $399,000 after buying an additional 85 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of ADP opened at $296.36 on Thursday. 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 firm’s 50 day moving average is $297.49 and its 200-day moving average is $281.46. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The stock has a market capitalization of $120.75 billion, a P/E ratio of 31.63, a P/E/G ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate 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 return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.08 earnings per share. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors 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 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Insider Buying and Selling

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was 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. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. TD Cowen increased their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Barclays raised their price target on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Royal Bank of Canada boosted their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Mizuho raised their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, Jefferies Financial Group boosted their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $289.91.

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.