Pathstone Holdings LLC Purchases 1,787 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Pathstone Holdings LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,595 shares of the business services provider’s stock after buying an additional 1,787 shares during the period. Pathstone Holdings LLC’s holdings in Automatic Data Processing were worth $25,973,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of ADP. AMG National Trust Bank increased its position in shares of Automatic Data Processing by 0.3% during the fourth quarter. AMG National Trust Bank now owns 11,334 shares of the business services provider’s stock worth $3,318,000 after purchasing an additional 33 shares in the last quarter. Aspiriant LLC increased 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 valued at $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC increased its holdings in shares of Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after acquiring an additional 36 shares in the last quarter. Rehmann Capital Advisory Group increased its holdings in shares of Automatic Data Processing by 1.0% during the fourth quarter. Rehmann Capital Advisory Group now owns 3,686 shares of the business services provider’s stock valued at $1,079,000 after acquiring an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC increased its holdings in shares of Automatic Data Processing by 4.2% during the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after acquiring an additional 37 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Automatic Data Processing stock opened at $309.41 on Thursday. The company’s fifty day moving average price is $297.49 and its 200 day moving average price is $299.59. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The stock has a market capitalization of $125.60 billion, a P/E ratio of 32.26, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to analysts’ expectations of $5.49 billion. During the same quarter last year, the company earned $2.88 EPS. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 63.05%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ADP shares. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a “buy” rating in a research report on Friday, May 2nd. TD Securities lifted their target price on Automatic Data Processing from $296.00 to $298.00 and gave the stock a “hold” rating in a report on Thursday, May 1st. Barclays increased their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $303.55.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Christopher D’ambrosio sold 478 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares in the company, valued at $2,158,682.96. This represents a 6.10% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the company’s stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company’s stock, valued at approximately $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,451 shares of company stock worth $743,024. Corporate insiders own 0.21% of the company’s stock.

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.