Hemington Wealth Management Acquires 40 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Hemington Wealth Management raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 1,738 shares of the business services provider’s stock after acquiring an additional 40 shares during the period. Hemington Wealth Management’s holdings in Automatic Data Processing were worth $508,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter valued at approximately $26,000. Dunhill Financial LLC boosted its position in shares of Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Capital Performance Advisors LLP purchased a new position in shares of Automatic Data Processing during the third quarter valued at approximately $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in shares of Automatic Data Processing during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the 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 completion of the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last 90 days. Insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.3 %

Shares of ADP stock opened at $306.65 on Thursday. The stock has a market capitalization of $124.95 billion, a PE ratio of 31.98, a P/E/G ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $311.67. The business has a 50-day moving average of $297.26 and a 200 day moving average of $287.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. As a group, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analysts Set New Price Targets

ADP has been the topic of several analyst reports. Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Jefferies Financial Group boosted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. UBS Group boosted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Finally, Barclays boosted their price objective 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average price target of $293.55.

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.