Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,935 shares of the business services provider’s stock after purchasing an additional 579 shares during the quarter. Frank Rimerman Advisors LLC’s holdings in Automatic Data Processing were worth $2,030,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Itau Unibanco Holding S.A. acquired a new stake in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC raised its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after acquiring an additional 149 shares during the period. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in Automatic Data Processing during the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $41,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

Shares of NASDAQ:ADP opened at $291.76 on Friday. The stock has a market capitalization of $118.88 billion, a price-to-earnings ratio of 30.42, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1-year low of $231.27 and a 1-year high of $322.84. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. The company has a 50 day moving average price of $302.32 and a 200 day moving average price of $294.44.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share 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%. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. UBS Group upped their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. 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. Finally, Barclays upped their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Two research 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. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $296.18.

Insider Buying and Selling

In related news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP David Foskett sold 1,004 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the vice president now owns 5,958 shares of the company’s stock, valued at approximately $1,723,589.82. This trade represents a 14.42 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,951 shares of company stock worth $1,762,074. Corporate 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.