Automatic Data Processing, Inc. (NASDAQ:ADP) Position Boosted by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lifted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.9% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 137,985 shares of the business services provider’s stock after purchasing an additional 13,593 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Automatic Data Processing were worth $40,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in ADP. JBGlobal.com LLC acquired a new position in Automatic Data Processing in the 4th quarter valued at approximately $545,000. Atomi Financial Group Inc. increased its stake in shares of Automatic Data Processing by 20.2% in the fourth quarter. Atomi Financial Group Inc. now owns 3,811 shares of the business services provider’s stock worth $1,116,000 after acquiring an additional 641 shares during the last quarter. Transform Wealth LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth $581,000. Chesley Taft & Associates LLC boosted its position in Automatic Data Processing by 0.7% during the fourth quarter. Chesley Taft & Associates LLC now owns 17,622 shares of the business services provider’s stock valued at $5,158,000 after purchasing an additional 116 shares during the last quarter. Finally, Aspiriant LLC grew its stake in Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock valued at $694,000 after purchasing an additional 36 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the sale, the vice president now owns 6,140 shares in the company, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,129 shares of company stock worth $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

ADP opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63. The firm has a market capitalization of $121.48 billion, a P/E ratio of 31.82, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. The stock’s 50 day moving average price is $297.69 and its two-hundred day moving average price is $281.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.08 earnings per share. On average, equities analysts forecast that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Royal Bank of Canada increased their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, October 22nd. Citigroup upped their price target on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Finally, Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $289.91.

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.