Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.5% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,487 shares of the business services provider’s stock after purchasing an additional 151 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Automatic Data Processing were worth $728,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the 3rd quarter valued at about $26,000. Dunhill Financial LLC grew its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at about $41,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on 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 in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP David Foskett sold 1,004 shares of the firm’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the sale, the vice president now owns 5,958 shares of the company’s stock, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Down 1.2 %

Automatic Data Processing stock opened at $290.55 on Friday. The firm has a 50 day simple moving average of $302.32 and a 200-day simple moving average of $294.30. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock has a market capitalization of $118.39 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) 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 80.86%. As a group, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Ratings Changes

ADP has been the topic of several analyst reports. 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 research note on Thursday, January 30th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $296.18.

About Automatic Data Processing

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.