JBGlobal.com LLC Makes New $545,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

JBGlobal.com LLC acquired a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,861 shares of the business services provider’s stock, valued at approximately $545,000. Automatic Data Processing accounts for about 0.6% of JBGlobal.com LLC’s investment portfolio, making the stock its 18th biggest position.

A number of other hedge funds also recently modified their holdings of the stock. Atomi Financial Group Inc. lifted its holdings in Automatic Data Processing by 20.2% during the 4th quarter. Atomi Financial Group Inc. now owns 3,811 shares of the business services provider’s stock worth $1,116,000 after purchasing an additional 641 shares during the last quarter. Transform Wealth LLC bought a new position in Automatic Data Processing during the 4th quarter worth $581,000. Chesley Taft & Associates LLC increased its position in Automatic Data Processing by 0.7% during the 4th quarter. Chesley Taft & Associates LLC now owns 17,622 shares of the business services provider’s stock worth $5,158,000 after buying an additional 116 shares during the period. Aspiriant LLC lifted its holdings in shares of Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after buying an additional 36 shares in the last quarter. Finally, Crossmark Global Holdings Inc. boosted its position in shares of Automatic Data Processing by 76.0% in the fourth quarter. Crossmark Global Holdings Inc. now owns 76,206 shares of the business services provider’s stock valued at $22,308,000 after acquiring an additional 32,906 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ADP shares. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Barclays lifted 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 report on Monday, November 4th. Mizuho increased their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research report on Monday, November 4th. UBS Group lifted their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, TD Cowen increased their target price on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Price Performance

Shares of ADP stock opened at $298.15 on Wednesday. The business has a fifty day simple moving average of $297.69 and a 200 day simple moving average of $281.01. The company has a market cap of $121.48 billion, a P/E ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted 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 firm had revenue of $4.83 billion during 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 business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 earnings per share. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. Automatic Data Processing’s payout ratio is presently 65.74%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing 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 sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction 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 transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. The trade was a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. Corporate insiders own 0.21% of the company’s stock.

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.