Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Relyea Zuckerberg Hanson LLC

Relyea Zuckerberg Hanson LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 121.7% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,898 shares of the business services provider’s stock after buying an additional 7,080 shares during the period. Relyea Zuckerberg Hanson LLC’s holdings in Automatic Data Processing were worth $3,776,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of ADP. Avanza Fonder AB purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $8,916,000. Procyon Advisors LLC raised its holdings in shares of Automatic Data Processing by 0.8% during the 4th quarter. Procyon Advisors LLC now owns 21,106 shares of the business services provider’s stock worth $6,178,000 after acquiring an additional 171 shares during the period. Everpar Advisors LLC boosted its position in shares of Automatic Data Processing by 3.4% during the 4th quarter. Everpar Advisors LLC now owns 1,969 shares of the business services provider’s stock valued at $576,000 after acquiring an additional 65 shares during the last quarter. Border to Coast Pensions Partnership Ltd grew its holdings in shares of Automatic Data Processing by 30.6% in the fourth quarter. Border to Coast Pensions Partnership Ltd now owns 156,533 shares of the business services provider’s stock valued at $45,791,000 after purchasing an additional 36,685 shares during the period. Finally, RDA Financial Network acquired a new stake in Automatic Data Processing during the fourth quarter worth about $1,508,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ADP has been the topic of a number of recent analyst reports. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday, January 11th. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Barclays raised their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 0.7 %

Automatic Data Processing stock traded up $2.15 during trading on Friday, reaching $298.38. The stock had a trading volume of 363,318 shares, compared to its average volume of 1,524,844. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The business has a 50 day moving average price of $298.24 and a 200 day moving average price of $279.45. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $121.58 billion, a PE ratio of 31.83, a P/E/G ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period in the previous year, the business earned $2.08 EPS. Automatic Data Processing’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Insider Activity

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, 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.