Partners Wealth Management LLC Makes New $356,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Partners Wealth Management LLC acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,217 shares of the business services provider’s stock, valued at approximately $356,000.

Several other institutional investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. bought a new stake in Automatic Data Processing in the 3rd quarter valued at about $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Capital Performance Advisors LLP acquired a new position in shares of Automatic Data Processing during the third quarter worth approximately $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock valued at $1,617,241. Company insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of recent research reports. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada reissued a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, TD Cowen increased their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $310.76 on Monday. The company has a market capitalization of $126.62 billion, a PE ratio of 32.40, a PEG ratio of 3.63 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The stock’s 50 day moving average price is $298.72 and its 200-day moving average price is $290.54. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $313.72.

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

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

About Automatic Data Processing

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.