Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Bought by Brighton Jones LLC

Brighton Jones LLC grew its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 92.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,026 shares of the business services provider’s stock after acquiring an additional 4,808 shares during the quarter. Brighton Jones LLC’s holdings in Automatic Data Processing were worth $2,935,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC boosted its holdings in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares in the last quarter. Hexagon Capital Partners LLC raised its stake in shares of Automatic Data Processing by 78.5% during the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock worth $32,000 after buying an additional 51 shares in the last quarter. Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the third quarter valued at approximately $35,000. Finally, Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the fourth quarter worth $37,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADP. TD Cowen raised their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, October 22nd. Barclays upped their target price on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a report on Monday, November 4th. Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. Finally, StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday, January 19th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the company’s stock in a transaction dated Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the transaction, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. The trade was a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Performance

Automatic Data Processing stock opened at $295.80 on Friday. The company has a market cap of $120.53 billion, a PE ratio of 31.57, a P/E/G ratio of 3.47 and a beta of 0.79. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The company has a fifty day moving average price of $297.27 and a two-hundred day moving average price of $281.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01.

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

Automatic Data Processing Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

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.