Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Holdings Increased by Tanager Wealth Management LLP

Tanager Wealth Management LLP grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,090 shares of the business services provider’s stock after buying an additional 76 shares during the quarter. Tanager Wealth Management LLP’s holdings in Automatic Data Processing were worth $255,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in the stock. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the 3rd quarter valued at about $25,000. Coppell Advisory Solutions LLC acquired a new stake in Automatic Data Processing during the second quarter valued at approximately $30,000. Strategic Investment Solutions Inc. IL bought a new stake in Automatic Data Processing during the first quarter worth approximately $31,000. Coppell Advisory Solutions Corp. acquired a new position in Automatic Data Processing in the fourth quarter worth approximately $33,000. Finally, Fortitude Family Office LLC bought a new position in shares of Automatic Data Processing in the fourth quarter valued at $35,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Automatic Data Processing Stock Up 0.5 %

Shares of Automatic Data Processing stock traded up $1.32 on Friday, hitting $243.31. 1,638,700 shares of the company traded hands, compared to its average volume of 1,816,781. Automatic Data Processing, Inc. has a 12-month low of $201.46 and a 12-month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market cap of $99.95 billion, a PE ratio of 28.29, a PEG ratio of 2.28 and a beta of 0.78. The company has a 50-day moving average price of $247.36 and a 200 day moving average price of $239.20.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The firm had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter last year, the firm earned $1.96 earnings per share. The business’s revenue for the quarter was up 6.3% on a year-over-year basis. Sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be issued a $1.40 dividend. The ex-dividend date is Friday, June 14th. This represents a $5.60 dividend on an annualized basis and a yield of 2.30%. Automatic Data Processing’s dividend payout ratio is currently 65.19%.

Insider Activity at Automatic Data Processing

In related news, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction on Tuesday, February 6th. The shares were sold at an average price of $250.00, for a total value of $215,750.00. Following the completion of the sale, the vice president now owns 8,285 shares of the company’s stock, valued at approximately $2,071,250. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares of the company’s stock, valued at approximately $4,380,645. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP David Kwon sold 863 shares of Automatic Data Processing stock in a transaction 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 in the company, valued at approximately $2,071,250. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 15,162 shares of company stock valued at $3,741,859. 0.26% of the stock is currently owned by corporate insiders.

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.