Websterrogers Financial Advisors LLC Buys New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Websterrogers Financial Advisors LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, Holdings Channel reports. The fund bought 1,115 shares of the business services provider’s stock, valued at approximately $327,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Moloney Securities Asset Management LLC acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $209,000. Nomura Asset Management Co. Ltd. increased its position in shares of Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares in the last quarter. RIA Advisory Group LLC acquired a new stake in shares of Automatic Data Processing during the third quarter valued at approximately $470,000. Dash Acquisitions Inc. lifted its position in shares of Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new position in Automatic Data Processing in the 3rd quarter worth approximately $951,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Insider Buying and Selling

In other news, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on 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. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,129 shares of company stock worth $12,604,872. 0.21% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several analysts have issued reports on ADP shares. Royal Bank of Canada boosted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Barclays raised their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research report on Monday, November 4th. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Citigroup raised their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Performance

ADP stock opened at $293.37 on Thursday. The firm has a 50 day moving average of $298.48 and a two-hundred day moving average of $279.35. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a market capitalization of $119.54 billion, a price-to-earnings ratio of 31.31, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

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

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.10%. Automatic Data Processing’s payout ratio is 65.74%.

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.