Fulton Breakefield Broenniman LLC Buys 429 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fulton Breakefield Broenniman LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% during the 4th quarter, Holdings Channel reports. The firm owned 45,494 shares of the business services provider’s stock after buying an additional 429 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Automatic Data Processing were worth $10,599,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Citizens Financial Group Inc. RI raised its stake in Automatic Data Processing by 18.9% during the 4th quarter. Citizens Financial Group Inc. RI now owns 22,401 shares of the business services provider’s stock valued at $5,219,000 after purchasing an additional 3,555 shares during the period. Mountain Pacific Investment Advisers Inc. ID raised its stake in Automatic Data Processing by 6.7% during the 4th quarter. Mountain Pacific Investment Advisers Inc. ID now owns 14,276 shares of the business services provider’s stock valued at $3,326,000 after purchasing an additional 900 shares during the period. Alesco Advisors LLC raised its stake in Automatic Data Processing by 12.3% during the 4th quarter. Alesco Advisors LLC now owns 1,403 shares of the business services provider’s stock valued at $327,000 after purchasing an additional 154 shares during the period. K.J. Harrison & Partners Inc bought a new stake in Automatic Data Processing during the 4th quarter valued at approximately $1,071,000. Finally, Evolution Advisers Inc. purchased a new position in Automatic Data Processing during the 4th quarter valued at approximately $41,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of Automatic Data Processing stock opened at $243.07 on Friday. The stock has a market cap of $99.85 billion, a price-to-earnings ratio of 28.30, a price-to-earnings-growth ratio of 2.28 and a beta of 0.78. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a 50 day moving average price of $246.70 and a 200-day moving average price of $239.19. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping analysts’ consensus estimates of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company’s quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.96 EPS. Equities analysts expect that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

Analysts Set New Price Targets

Several research firms have weighed in on ADP. Mizuho raised their price target on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Wolfe Research upgraded Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Royal Bank of Canada restated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a report on Thursday, February 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Bank of America upgraded Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $258.36.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP David Kwon sold 863 shares of the business’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares in the company, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The disclosure for this sale can be found here. Insiders sold a total of 15,162 shares of company stock worth $3,741,859 in the last quarter. 0.26% of the stock is owned by company insiders.

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.