MONECO Advisors LLC Buys 9,745 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

MONECO Advisors LLC increased its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 561.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 11,482 shares of the business services provider’s stock after acquiring an additional 9,745 shares during the quarter. MONECO Advisors LLC’s holdings in Automatic Data Processing were worth $2,675,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Brighton Jones LLC lifted its position in Automatic Data Processing by 3.9% during the fourth quarter. Brighton Jones LLC now owns 7,533 shares of the business services provider’s stock valued at $1,755,000 after purchasing an additional 280 shares during the last quarter. Mission Wealth Management LP lifted its holdings in shares of Automatic Data Processing by 2.5% in the 4th quarter. Mission Wealth Management LP now owns 8,794 shares of the business services provider’s stock worth $2,049,000 after acquiring an additional 217 shares during the last quarter. Certuity LLC lifted its holdings in shares of Automatic Data Processing by 34.8% in the 4th quarter. Certuity LLC now owns 3,579 shares of the business services provider’s stock worth $834,000 after acquiring an additional 923 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its holdings in shares of Automatic Data Processing by 0.7% in the 4th quarter. Penobscot Investment Management Company Inc. now owns 46,059 shares of the business services provider’s stock worth $10,730,000 after acquiring an additional 304 shares during the last quarter. Finally, Kestra Private Wealth Services LLC lifted its holdings in shares of Automatic Data Processing by 1.5% in the 4th quarter. Kestra Private Wealth Services LLC now owns 31,113 shares of the business services provider’s stock worth $7,248,000 after acquiring an additional 455 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Stock Performance

NASDAQ ADP traded down $2.06 on Tuesday, hitting $241.89. 1,944,998 shares of the company’s stock traded hands, compared to its average volume of 1,787,675. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. Automatic Data Processing, Inc. has a 1-year low of $205.53 and a 1-year high of $256.84. The firm’s 50-day moving average price is $246.51 and its two-hundred day moving average price is $239.10. The firm has a market capitalization of $99.37 billion, a PE ratio of 28.24, a P/E/G ratio of 2.28 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, beating the consensus estimate of $2.10 by $0.03. The firm had revenue of $4.67 billion during the quarter, compared to analyst estimates of $4.65 billion. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business’s quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.96 EPS. As a group, analysts expect 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 dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the sale, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the sale, the vice president now owns 20,319 shares in the company, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders sold 15,162 shares of company stock valued at $3,741,859 over the last 90 days. 0.26% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently commented on ADP. 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. 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. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their target price for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Evercore ISI raised their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $258.36.

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.