Graves Light Private Wealth Management Inc. acquired a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,141 shares of the business services provider’s stock, valued at approximately $201,000.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Glassman Wealth Services boosted its holdings in Automatic Data Processing by 67.8% in the third quarter. Glassman Wealth Services now owns 198 shares of the business services provider’s stock valued at $28,000 after purchasing an additional 80 shares during the last quarter. Advisory Alpha LLC acquired a new position in shares of Automatic Data Processing in the third quarter worth about $29,000. Bainco International Investors acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $34,000. Sun Life Financial INC acquired a new position in shares of Automatic Data Processing in the third quarter worth about $36,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Automatic Data Processing by 1,005.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 221 shares of the business services provider’s stock worth $39,000 after acquiring an additional 201 shares during the period. 79.65% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on the stock. Barclays upped their price objective on shares of Automatic Data Processing from $180.00 to $197.00 and gave the stock an “overweight” rating in a research report on Monday, February 1st. Deutsche Bank Aktiengesellschaft upped their price target on shares of Automatic Data Processing from $150.00 to $173.00 and gave the stock a “hold” rating in a research report on Thursday, January 28th. Wells Fargo & Company upped their price target on shares of Automatic Data Processing from $200.00 to $205.00 and gave the stock an “overweight” rating in a research report on Thursday, January 28th. Evercore ISI downgraded shares of Automatic Data Processing from an “outperform” rating to an “underperform” rating and reduced their price target for the stock from $197.00 to $143.00 in a research report on Tuesday, January 12th. Finally, Morgan Stanley increased their price objective on shares of Automatic Data Processing from $159.00 to $171.00 and gave the company an “equal weight” rating in a report on Thursday, January 28th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and five have assigned a buy rating to the company’s stock. Automatic Data Processing currently has an average rating of “Hold” and a consensus target price of $166.65.
In other news, VP Deborah L. Dyson sold 600 shares of the stock in a transaction dated Monday, January 11th. The shares were sold at an average price of $170.93, for a total transaction of $102,558.00. Following the transaction, the vice president now directly owns 24,786 shares in the company, valued at approximately $4,236,670.98. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Brock Albinson sold 2,151 shares of the stock in a transaction dated Monday, January 4th. The stock was sold at an average price of $175.97, for a total transaction of $378,511.47. Following the transaction, the vice president now owns 38,685 shares in the company, valued at $6,807,399.45. The disclosure for this sale can be found here. 0.34% of the stock is owned by insiders.
NASDAQ:ADP opened at $167.03 on Friday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.34. Automatic Data Processing, Inc. has a fifty-two week low of $103.11 and a fifty-two week high of $182.32. The stock has a market cap of $71.48 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 2.39 and a beta of 0.70. The firm’s fifty day simple moving average is $167.89 and its 200-day simple moving average is $156.03.
Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Tuesday, January 26th. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.29 by $0.23. Automatic Data Processing had a net margin of 17.07% and a return on equity of 46.13%. The business had revenue of $3.70 billion for the quarter, compared to analyst estimates of $3.57 billion. During the same period in the previous year, the firm earned $1.52 EPS. The business’s revenue for the quarter was up .7% compared to the same quarter last year. Equities analysts anticipate that Automatic Data Processing, Inc. will post 5.63 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Friday, March 12th will be given a $0.93 dividend. The ex-dividend date of this dividend is Thursday, March 11th. This represents a $3.72 annualized dividend and a dividend yield of 2.23%. Automatic Data Processing’s dividend payout ratio is presently 62.84%.
Automatic Data Processing 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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