Segment Wealth Management LLC Has $17.09 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Segment Wealth Management LLC decreased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.1% in the 4th quarter, HoldingsChannel reports. The firm owned 58,363 shares of the business services provider’s stock after selling 43 shares during the period. Automatic Data Processing makes up approximately 1.2% of Segment Wealth Management LLC’s holdings, making the stock its 24th largest holding. Segment Wealth Management LLC’s holdings in Automatic Data Processing were worth $17,085,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in ADP. Seven Eight Capital LP bought a new stake in shares of Automatic Data Processing during the second quarter worth about $314,000. AE Wealth Management LLC boosted its holdings in Automatic Data Processing by 28.5% during the 2nd quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock worth $2,258,000 after acquiring an additional 2,096 shares during the last quarter. Pacer Advisors Inc. boosted its position in Automatic Data Processing by 5.7% in the second quarter. Pacer Advisors Inc. now owns 68,079 shares of the business services provider’s stock worth $16,250,000 after purchasing an additional 3,682 shares during the last quarter. Thrivent Financial for Lutherans grew its holdings in Automatic Data Processing by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock valued at $28,826,000 after purchasing an additional 4,427 shares during the period. Finally, Ensign Peak Advisors Inc grew its stake in Automatic Data Processing by 8.6% in the 2nd quarter. Ensign Peak Advisors Inc now owns 106,152 shares of the business services provider’s stock valued at $25,337,000 after buying an additional 8,424 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have commented on ADP. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com raised shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $296.18 on Tuesday. The stock’s fifty day moving average price is $297.90 and its 200 day moving average price is $280.60. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. 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 has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its 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 business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.08 earnings per share. As a group, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared 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 is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This trade represents a 1.04 % 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 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 completion of the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 in the last quarter. 0.21% 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.