Global Financial Private Client LLC Buys 696 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Global Financial Private Client LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 17.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,681 shares of the business services provider’s stock after buying an additional 696 shares during the quarter. Global Financial Private Client LLC’s holdings in Automatic Data Processing were worth $1,370,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Signal Advisors Wealth LLC increased its position in shares of Automatic Data Processing by 13.1% in the fourth quarter. Signal Advisors Wealth LLC now owns 2,547 shares of the business services provider’s stock valued at $749,000 after acquiring an additional 295 shares during the last quarter. Cullen Investment Group LTD. acquired a new position in shares of Automatic Data Processing during the 4th quarter worth approximately $208,000. Exeter Financial LLC lifted its holdings in Automatic Data Processing by 0.7% during the 4th quarter. Exeter Financial LLC now owns 13,606 shares of the business services provider’s stock valued at $3,983,000 after purchasing an additional 96 shares during the last quarter. Tealwood Asset Management Inc. boosted its position in Automatic Data Processing by 1.3% during the fourth quarter. Tealwood Asset Management Inc. now owns 9,484 shares of the business services provider’s stock worth $2,776,000 after purchasing an additional 124 shares during the period. Finally, PSI Advisors LLC increased its holdings in shares of Automatic Data Processing by 3,750.0% in the fourth quarter. PSI Advisors LLC now owns 231 shares of the business services provider’s stock valued at $68,000 after purchasing an additional 225 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. Barclays lifted their target price on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. TD Cowen boosted their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Saturday. Mizuho upped their price target on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Performance

NASDAQ ADP opened at $290.20 on Tuesday. The firm’s 50 day simple moving average is $298.47 and its 200 day simple moving average is $278.98. The firm has a market capitalization of $118.24 billion, a price-to-earnings ratio of 30.97, a P/E/G ratio of 3.50 and a beta of 0.79. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the company posted $2.08 EPS. The company’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were paid a dividend of $1.54 per share. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date was Friday, December 13th. This represents a $6.16 annualized dividend and a yield of 2.12%. Automatic Data Processing’s payout ratio is presently 65.74%.

Insider Transactions at Automatic Data Processing

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