MRA Advisory Group Sells 150 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

MRA Advisory Group decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.0% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 787 shares of the business services provider’s stock after selling 150 shares during the quarter. MRA Advisory Group’s holdings in Automatic Data Processing were worth $230,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new position in Automatic Data Processing in the third quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing during the 2nd quarter worth about $27,000. Dunhill Financial LLC grew its holdings in Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the last quarter. Hexagon Capital Partners LLC increased its position in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 51 shares in the last quarter. Finally, Capital Performance Advisors LLP bought a new position in shares of Automatic Data Processing in the third quarter worth about $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP David Foskett sold 1,004 shares of Automatic Data Processing stock in a transaction on Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the sale, the vice president now directly owns 5,958 shares in the company, valued at approximately $1,723,589.82. The trade was a 14.42 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 41,062 shares of company stock worth $12,299,550. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ADP. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group upped their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada lifted their price target on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Mizuho boosted their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Stock Up 1.2 %

Shares of Automatic Data Processing stock opened at $290.20 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $118.24 billion, a P/E ratio of 30.97, a price-to-earnings-growth ratio of 3.50 and a beta of 0.79. The business has a 50-day moving average of $298.47 and a two-hundred day moving average of $278.98.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the company posted $2.08 EPS. The business’s quarterly revenue was up 7.1% on a year-over-year basis. As a group, equities analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Investors of record on Friday, December 13th were paid a $1.54 dividend. The ex-dividend date was Friday, December 13th. This is a positive change from Automatic Data Processing’s previous quarterly dividend of $1.40. This represents a $6.16 dividend on an annualized basis and a yield of 2.12%. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Automatic Data Processing 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.