Blue Barn Wealth LLC Makes New Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Blue Barn Wealth LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, Holdings Channel reports. The fund bought 888 shares of the business services provider’s stock, valued at approximately $207,000.

Other large investors also recently modified their holdings of the company. OFI Invest Asset Management acquired a new stake in Automatic Data Processing in the third quarter valued at $25,000. Fortitude Family Office LLC acquired a new position in Automatic Data Processing in the fourth quarter worth about $35,000. Evolution Advisers Inc. bought a new stake in Automatic Data Processing in the fourth quarter valued at about $41,000. Raleigh Capital Management Inc. raised its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares in the last quarter. Finally, Bfsg LLC bought a new position in Automatic Data Processing during the 4th quarter worth approximately $42,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ADP shares. JPMorgan Chase & Co. dropped their price target on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a research report on Thursday, May 2nd. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price target for the stock from $217.00 to $243.00 in a research report on Wednesday, January 17th. Mizuho boosted their price objective on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Evercore ISI lifted their target price on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price target on shares of Automatic Data Processing in a research report on Thursday, February 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $255.42.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the sale, the vice president now owns 20,687 shares of the company’s stock, valued at approximately $5,159,958.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares in the company, valued at approximately $5,159,958.41. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph Desilva sold 1,904 shares of the stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the transaction, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders have sold 2,966 shares of company stock worth $749,524 over the last quarter. 0.26% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

ADP traded up $2.38 during trading hours on Tuesday, hitting $245.12. The company’s stock had a trading volume of 1,202,179 shares, compared to its average volume of 1,781,435. The company has a 50-day simple moving average of $245.29 and a 200 day simple moving average of $238.95. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.65. The firm has a market capitalization of $100.33 billion, a PE ratio of 27.36, a PEG ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a fifty-two week low of $205.53 and a fifty-two week high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.88 EPS for the quarter, beating analysts’ consensus estimates of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The company’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company earned $2.52 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.15 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed 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 2.28%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 62.50%.

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.