Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC grew its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 228,973 shares of the business services provider’s stock after acquiring an additional 2,203 shares during the quarter. Wealth Enhancement Advisory Services LLC owned about 0.06% of Automatic Data Processing worth $63,363,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing in the third quarter worth about $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing in the second quarter worth about $27,000. Dunhill Financial LLC lifted its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC lifted its holdings in Automatic Data Processing by 78.5% in the third quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after purchasing an additional 51 shares during the period. Finally, Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter worth about $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $286.85 on Friday. The company has a market capitalization of $116.88 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The business’s 50-day moving average is $298.46 and its 200-day moving average is $278.12.

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 firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.08 earnings per share. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were given a dividend of $1.54 per share. The ex-dividend date was Friday, December 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.15%. This is a boost from Automatic Data Processing’s previous quarterly dividend of $1.40. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. UBS Group boosted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research report on Friday, November 1st. Citigroup boosted their price target on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Mizuho boosted their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other news, VP David Foskett sold 1,004 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $289.29, for a total transaction of $290,447.16. Following the completion of the transaction, the vice president now directly owns 5,958 shares in the company, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This trade represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 41,062 shares of company stock valued at $12,299,550 over the last 90 days. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing 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.