Automatic Data Processing, Inc. (NASDAQ:ADP) Position Boosted by SYM FINANCIAL Corp

SYM FINANCIAL Corp lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 820 shares of the business services provider’s stock after purchasing an additional 75 shares during the quarter. SYM FINANCIAL Corp’s holdings in Automatic Data Processing were worth $240,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ADP. Tower Wealth Partners Inc. increased its stake in shares of Automatic Data Processing by 3.4% in the 3rd quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock valued at $292,000 after purchasing an additional 35 shares during the last quarter. Harbour Investments Inc. raised its stake in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares in the last quarter. Aspiriant LLC boosted its stake in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares in the last quarter. Precedent Wealth Partners LLC grew its holdings in shares of Automatic Data Processing by 0.7% during the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock valued at $1,466,000 after purchasing an additional 36 shares during the last quarter. Finally, Petredis Investment Advisors LLC increased its position in Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have weighed in on ADP shares. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday. Mizuho upped their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a research note on Tuesday, October 22nd. TD Cowen upped their price objective on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Finally, Barclays raised their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a 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 stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $291.27.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s 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 completion of the sale, the vice president now owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $303.01 on Monday. The firm has a fifty day simple moving average of $297.16 and a 200 day simple moving average of $284.59. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $123.46 billion, a PE ratio of 31.60, a P/E/G ratio of 3.50 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 81.85%. On average, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.03%. Automatic Data Processing’s payout ratio is currently 64.23%.

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.