Empirical Financial Services LLC d.b.a. Empirical Wealth Management Buys 1,219 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management lifted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,141 shares of the business services provider’s stock after purchasing an additional 1,219 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Automatic Data Processing were worth $2,596,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing in the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $35,000. Raleigh Capital Management Inc. grew its holdings in Automatic Data Processing by 106.0% during the 3rd 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. Evolution Advisers Inc. purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $41,000. Finally, Bfsg LLC purchased a new stake in Automatic Data Processing during the 4th quarter valued at approximately $42,000. Institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ADP shares. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday, March 26th. JPMorgan Chase & Co. lowered their target price on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research report on Thursday, May 2nd. TD Cowen lowered their target price on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research report on Thursday, May 2nd. Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, March 11th. Finally, Royal Bank of Canada reiterated 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. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $255.42.

Automatic Data Processing Trading Up 1.0 %

ADP traded up $2.38 during trading on Tuesday, reaching $245.12. The company had a trading volume of 1,202,179 shares, compared to its average volume of 1,781,435. Automatic Data Processing, Inc. has a 52 week low of $205.53 and a 52 week high of $256.84. The stock has a market cap of $100.33 billion, a P/E ratio of 27.36, a PEG ratio of 2.30 and a beta of 0.78. The business has a 50 day simple moving average of $245.29 and a 200-day simple moving average of $238.95. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.65.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, May 1st. The business services provider reported $2.88 earnings per share for the quarter, topping the consensus estimate of $2.79 by $0.09. Automatic Data Processing had a return on equity of 93.09% and a net margin of 19.56%. The business had revenue of $5.30 billion during the quarter, compared to the consensus estimate of $5.22 billion. During the same period last year, the company earned $2.52 earnings per share. The business’s revenue for the quarter was up 7.6% compared to the same quarter last year. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.15 EPS for the current fiscal 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 given a dividend of $1.40 per share. The ex-dividend date is Friday, June 14th. This represents a $5.60 annualized dividend and a dividend yield of 2.28%. Automatic Data Processing’s dividend payout ratio (DPR) is 62.50%.

Insider Transactions at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares in the company, valued at $5,018,996.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 value of $485,520.00. Following the completion of the transaction, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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 completion of the transaction, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,966 shares of company stock worth $749,524. 0.26% of the stock is currently owned by insiders.

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.