Fulton Breakefield Broenniman LLC Trims Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Fulton Breakefield Broenniman LLC decreased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,865 shares of the business services provider’s stock after selling 406 shares during the quarter. Fulton Breakefield Broenniman LLC’s holdings in Automatic Data Processing were worth $13,133,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ADP. Northwestern Mutual Wealth Management Co. lifted its position in Automatic Data Processing by 7.8% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 43,305 shares of the business services provider’s stock valued at $10,343,000 after purchasing an additional 3,151 shares during the last quarter. Regal Investment Advisors LLC raised its holdings in shares of Automatic Data Processing by 10.0% during the second quarter. Regal Investment Advisors LLC now owns 15,342 shares of the business services provider’s stock valued at $3,662,000 after acquiring an additional 1,401 shares in the last quarter. EP Wealth Advisors LLC raised its holdings in shares of Automatic Data Processing by 25.6% during the second quarter. EP Wealth Advisors LLC now owns 19,408 shares of the business services provider’s stock valued at $4,632,000 after acquiring an additional 3,951 shares in the last quarter. Next Capital Management LLC raised its holdings in shares of Automatic Data Processing by 5.3% during the second quarter. Next Capital Management LLC now owns 1,442 shares of the business services provider’s stock valued at $344,000 after acquiring an additional 72 shares in the last quarter. Finally, Truist Financial Corp grew its stake in Automatic Data Processing by 0.7% in the second quarter. Truist Financial Corp now owns 851,390 shares of the business services provider’s stock worth $203,218,000 after purchasing an additional 5,900 shares during the period. Institutional investors own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

ADP has been the topic of several recent research reports. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. 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 research note on Tuesday, October 22nd. Finally, Royal Bank of Canada increased their target price on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $289.91.

Insider Activity

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 38,975 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock valued at $12,604,872. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Stock Down 0.6 %

ADP stock opened at $298.31 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a market cap of $121.55 billion, a P/E ratio of 31.84, a PEG ratio of 3.45 and a beta of 0.79. The business’s 50-day moving average price is $297.18 and its 200-day moving average price is $283.23.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, October 30th. The business services provider reported $2.33 earnings per share 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 firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.08 EPS. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 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.