Lake Street Advisors Group LLC Acquires 210 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Lake Street Advisors Group LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,498 shares of the business services provider’s stock after purchasing an additional 210 shares during the period. Lake Street Advisors Group LLC’s holdings in Automatic Data Processing were worth $3,089,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of ADP. J.W. Cole Advisors Inc. raised its holdings in Automatic Data Processing by 3.5% during the 3rd quarter. J.W. Cole Advisors Inc. now owns 6,080 shares of the business services provider’s stock valued at $1,682,000 after buying an additional 208 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Automatic Data Processing by 23.4% during the 3rd quarter. Salomon & Ludwin LLC now owns 264 shares of the business services provider’s stock valued at $73,000 after acquiring an additional 50 shares during the period. Baker Tilly Wealth Management LLC increased its position in Automatic Data Processing by 19.7% during the third quarter. Baker Tilly Wealth Management LLC now owns 1,227 shares of the business services provider’s stock valued at $340,000 after acquiring an additional 202 shares during the last quarter. TCI Wealth Advisors Inc. bought a new position in Automatic Data Processing in the third quarter worth approximately $201,000. Finally, Nisa Investment Advisors LLC raised its stake in Automatic Data Processing by 18.5% during the 3rd quarter. Nisa Investment Advisors LLC now owns 199,849 shares of the business services provider’s stock worth $55,628,000 after acquiring an additional 31,141 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insider Activity

In other news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Maria Black sold 721 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now owns 68,856 shares in the company, valued at $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 over the last 90 days. Company insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

ADP has been the subject of a number of research reports. Jefferies Financial Group upped their target price 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a 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 stock an “outperform” rating in a report on Monday, November 4th. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, TD Cowen upped their target price on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Two investment 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, Automatic Data Processing has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Up 0.4 %

Shares of NASDAQ ADP opened at $313.37 on Wednesday. The stock has a market cap of $127.69 billion, a PE ratio of 32.68, a price-to-earnings-growth ratio of 3.62 and a beta of 0.79. The business has a 50-day moving average price of $299.38 and a 200 day moving average price of $291.25. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $314.70.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

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.