Fidelis Capital Partners LLC Buys 2,651 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Fidelis Capital Partners LLC lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 101.4% during the fourth quarter, HoldingsChannel reports. The firm owned 5,266 shares of the business services provider’s stock after purchasing an additional 2,651 shares during the period. Fidelis Capital Partners LLC’s holdings in Automatic Data Processing were worth $1,227,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Ardent Capital Management Inc. bought a new position in shares of Automatic Data Processing in the third quarter worth about $392,000. Americana Partners LLC increased its stake in shares of Automatic Data Processing by 3.1% in the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after purchasing an additional 660 shares during the period. Everence Capital Management Inc. grew its position in Automatic Data Processing by 28.5% during the fourth quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after buying an additional 3,800 shares in the last quarter. Cyndeo Wealth Partners LLC grew its position in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $1,635,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Price Performance

NASDAQ ADP traded down $0.91 during trading on Thursday, reaching $241.99. 1,454,207 shares of the company traded hands, compared to its average volume of 1,819,155. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The stock’s 50 day moving average price is $247.54 and its two-hundred day moving average price is $239.18. The company has a market cap of $99.41 billion, a price-to-earnings ratio of 28.28, a P/E/G ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 1-year low of $201.46 and a 1-year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to the consensus estimate of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business earned $1.96 EPS. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 annualized dividend and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is currently 65.19%.

Insider Transactions at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, VP Don Mcguire sold 11,333 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the transaction, the vice president now owns 19,906 shares in the company, valued at approximately $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Kwon sold 863 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $250.00, for a total transaction of $215,750.00. Following the completion of the transaction, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 in the last three months. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research firms recently weighed in on ADP. Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Mizuho lifted their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $254.58.

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.