Almanack Investment Partners LLC. Increases Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

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Almanack Investment Partners LLC. grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 20.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,892 shares of the business services provider’s stock after acquiring an additional 487 shares during the quarter. Almanack Investment Partners LLC.’s holdings in Automatic Data Processing were worth $512,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Glassman Wealth Services increased its stake in Automatic Data Processing by 67.8% in the 3rd quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock worth $28,000 after buying an additional 80 shares during the period. Advisory Alpha LLC bought a new position in Automatic Data Processing during the 3rd quarter worth about $29,000. Bainco International Investors bought a new position in Automatic Data Processing during the 4th quarter worth about $34,000. Sun Life Financial INC bought a new position in Automatic Data Processing during the 3rd quarter worth about $36,000. Finally, Riggs Asset Managment Co. Inc. grew its holdings in Automatic Data Processing by 200.0% during the 3rd quarter. Riggs Asset Managment Co. Inc. now owns 600 shares of the business services provider’s stock worth $38,000 after acquiring an additional 400 shares in the last quarter. 79.65% of the stock is currently owned by institutional investors and hedge funds.

ADP stock opened at $166.94 on Thursday. The company’s 50 day moving average price is $168.25 and its 200 day moving average price is $155.82. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.08 and a current ratio of 1.08. Automatic Data Processing, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The firm has a market capitalization of $71.44 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.39 and a beta of 0.70.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Tuesday, January 26th. The business services provider reported $1.52 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.29 by $0.23. The firm had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.57 billion. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The business’s quarterly revenue was up .7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.52 earnings per share. Equities analysts forecast that Automatic Data Processing, Inc. will post 5.63 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Stockholders of record on Friday, March 12th will be issued a $0.93 dividend. This represents a $3.72 annualized dividend and a dividend yield of 2.23%. The ex-dividend date of this dividend is Thursday, March 11th. Automatic Data Processing’s payout ratio is currently 62.84%.

In related news, VP Deborah L. Dyson sold 600 shares of the stock in a transaction on Monday, January 11th. The stock was sold at an average price of $170.93, for a total transaction of $102,558.00. Following the completion of the sale, the vice president now directly owns 24,786 shares of the company’s stock, valued at $4,236,670.98. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Brock Albinson sold 2,151 shares of the stock in a transaction on Monday, January 4th. The stock was sold at an average price of $175.97, for a total value of $378,511.47. Following the sale, the vice president now directly owns 38,685 shares of the company’s stock, valued at $6,807,399.45. The disclosure for this sale can be found here. 0.34% of the stock is currently owned by corporate insiders.

Several research analysts have issued reports on ADP shares. Citigroup upgraded shares of Automatic Data Processing from a “neutral” rating to a “buy” rating and increased their target price for the stock from $180.00 to $190.00 in a report on Friday, January 29th. Jefferies Financial Group lifted their target price on shares of Automatic Data Processing from $135.00 to $168.00 and gave the stock a “hold” rating in a research note on Wednesday, October 28th. Mizuho assumed coverage on shares of Automatic Data Processing in a research note on Wednesday. They issued a “buy” rating and a $210.00 target price for the company. Credit Suisse Group lifted their target price on shares of Automatic Data Processing from $185.00 to $190.00 and gave the stock an “outperform” rating in a research note on Monday, November 9th. Finally, Morgan Stanley lifted their target price on shares of Automatic Data Processing from $159.00 to $171.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 28th. Four analysts have rated the stock with a sell rating, eleven have issued a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $166.65.

Automatic Data Processing Company Profile

Automatic Data Processing, Inc provides cloud-based human capital management solutions worldwide. It operates through two segments, Employer Services and Professional Employer Organization (PEO). The Employer Services segment offers strategic, cloud-based platforms, and human resources (HR) outsourcing solutions.

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