Angeles Wealth Management LLC Has $457,000 Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Angeles Wealth Management LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 10.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,562 shares of the business services provider’s stock after acquiring an additional 146 shares during the quarter. Angeles Wealth Management LLC’s holdings in Automatic Data Processing were worth $457,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing during the third quarter valued at $26,000. Dunhill Financial LLC increased 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 valued at $29,000 after purchasing an additional 149 shares during the period. Capital Performance Advisors LLP bought a new position in Automatic Data Processing during the 3rd quarter worth $35,000. Sugar Maple Asset Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth about $37,000. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter valued at about $41,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Barclays raised their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. 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. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. Mizuho boosted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company 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 Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $293.55.

Automatic Data Processing Price Performance

ADP stock opened at $306.93 on Tuesday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $311.67. The stock has a market capitalization of $125.06 billion, a PE ratio of 32.01, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. The company’s 50-day moving average is $297.20 and its 200-day moving average is $286.94. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a yield of 2.01%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insiders Place Their Bets

In other news, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of 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 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

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.