1,861 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Acquired by JBGlobal.com LLC

JBGlobal.com LLC bought a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, Holdings Channel.com reports. The firm bought 1,861 shares of the business services provider’s stock, valued at approximately $545,000. Automatic Data Processing comprises about 0.6% of JBGlobal.com LLC’s portfolio, making the stock its 18th largest position.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in ADP. AE Wealth Management LLC lifted its stake in shares of Automatic Data Processing by 28.5% in the 2nd quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock valued at $2,258,000 after purchasing an additional 2,096 shares during the period. Thrivent Financial for Lutherans boosted its holdings in shares of Automatic Data Processing by 3.8% during the 2nd quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock worth $28,826,000 after buying an additional 4,427 shares in the last quarter. 1832 Asset Management L.P. boosted its holdings in shares of Automatic Data Processing by 1.1% during the 2nd quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock worth $9,713,000 after buying an additional 436 shares in the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Automatic Data Processing by 12.1% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock valued at $516,000 after acquiring an additional 212 shares in the last quarter. Finally, Public Sector Pension Investment Board lifted its position in shares of Automatic Data Processing by 71.0% during the 2nd quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock valued at $3,703,000 after acquiring an additional 6,439 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Price Performance

ADP opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $121.48 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79. The firm’s fifty day moving average price is $297.69 and its two-hundred day moving average price is $281.01.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.77 billion. During the same period in the previous year, the company earned $2.08 earnings per share. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share 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. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 2.07%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 65.74%.

Insider Activity at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. This represents a 14.81 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ADP. TD Cowen raised their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. UBS Group raised their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company 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. Royal Bank of Canada raised their price objective on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. Finally, Citigroup increased their target price on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Two investment 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 data from MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $289.91.

Automatic Data Processing Company Profile

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.