Asset Planning Inc Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Planning Inc purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 375 shares of the business services provider’s stock, valued at approximately $110,000.

A number of other institutional investors have also recently bought and sold shares of ADP. Exchange Traded Concepts LLC boosted its holdings in shares of Automatic Data Processing by 22.9% during the third quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock worth $1,278,000 after acquiring an additional 861 shares during the period. Creative Planning boosted its stake in shares of Automatic Data Processing by 2.8% in the third quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock valued at $35,306,000 after buying an additional 3,456 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its stake in shares of Automatic Data Processing by 11.4% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,542 shares of the business services provider’s stock valued at $6,792,000 after buying an additional 2,504 shares during the period. Culbertson A N & Co. Inc. lifted its stake in Automatic Data Processing by 3.5% during the third quarter. Culbertson A N & Co. Inc. now owns 25,153 shares of the business services provider’s stock worth $6,961,000 after purchasing an additional 859 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in Automatic Data Processing during the third quarter worth $827,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $106,366.46. Following 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 position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,478 shares of company stock valued at $1,617,241. 0.21% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ADP. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Jefferies Financial Group increased their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Mizuho increased 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. TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

ADP stock opened at $310.22 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The stock has a market capitalization of $126.40 billion, a PE ratio of 32.35, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day moving average is $297.32 and its 200-day moving average is $287.85.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm 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 of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s payout ratio is 64.23%.

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.