Stonegate Investment Group LLC Has $663,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Stonegate Investment Group LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 49.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,266 shares of the business services provider’s stock after buying an additional 750 shares during the quarter. Stonegate Investment Group LLC’s holdings in Automatic Data Processing were worth $663,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in ADP. Perigon Wealth Management LLC increased its holdings in shares of Automatic Data Processing by 33.3% during the 4th quarter. Perigon Wealth Management LLC now owns 30,926 shares of the business services provider’s stock valued at $9,161,000 after acquiring an additional 7,734 shares during the last quarter. Hutchens & Kramer Investment Management Group LLC grew its holdings in Automatic Data Processing by 2.6% during the fourth quarter. Hutchens & Kramer Investment Management Group LLC now owns 3,419 shares of the business services provider’s stock valued at $1,001,000 after purchasing an additional 87 shares during the last quarter. Matrix Asset Advisors Inc. NY acquired a new position in Automatic Data Processing during the fourth quarter valued at approximately $319,000. YHB Investment Advisors Inc. raised its position in shares of Automatic Data Processing by 9.1% in the fourth quarter. YHB Investment Advisors Inc. now owns 4,359 shares of the business services provider’s stock valued at $1,276,000 after purchasing an additional 363 shares during the period. Finally, Acorn Creek Capital LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter worth $215,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ADP. UBS Group raised their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada boosted their price objective on 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. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Mizuho increased their price objective 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. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $289.91.

Insider Transactions at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $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 ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.6 %

Shares of ADP stock opened at $298.31 on Wednesday. The stock has a market cap of $121.55 billion, a P/E ratio of 31.84, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. 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 stock has a fifty day moving average price of $297.18 and a 200 day moving average price of $283.23. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same period last year, the firm earned $2.08 EPS. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio is currently 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.