Centricity Wealth Management LLC Takes Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Centricity Wealth Management LLC acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, HoldingsChannel reports. The fund acquired 1,078 shares of the business services provider’s stock, valued at approximately $316,000.

Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the third quarter worth $26,000. Dunhill Financial LLC boosted its position 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 purchasing an additional 149 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing in the 4th quarter valued at $37,000. Capital Performance Advisors LLP purchased a new position in Automatic Data Processing in the third quarter valued at about $35,000. Finally, Wingate Wealth Advisors Inc. purchased a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ADP. Barclays upped their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Two 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.com, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Stock Down 0.4 %

Shares of NASDAQ:ADP opened at $311.97 on Friday. The firm has a market cap of $127.12 billion, a PE ratio of 32.53, a price-to-earnings-growth ratio of 3.61 and a beta of 0.79. The company has a fifty day simple moving average of $298.44 and a 200 day simple moving average of $289.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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 80.86%. On average, equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is currently 64.23%.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 in the last quarter. Insiders own 0.21% of the company’s stock.

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.