Bartlett & CO. Wealth Management LLC Has $29.21 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Bartlett & CO. Wealth Management LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 99,256 shares of the business services provider’s stock after purchasing an additional 1,882 shares during the quarter. Bartlett & CO. Wealth Management LLC’s holdings in Automatic Data Processing were worth $29,208,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. State Street Corp grew its holdings in Automatic Data Processing by 2.4% during the third quarter. State Street Corp now owns 18,334,580 shares of the business services provider’s stock valued at $5,098,541,000 after purchasing an additional 424,328 shares during the last quarter. Geode Capital Management LLC grew its stake in Automatic Data Processing by 2.8% in the 3rd quarter. Geode Capital Management LLC now owns 10,517,642 shares of the business services provider’s stock valued at $2,906,257,000 after buying an additional 286,080 shares during the last quarter. Ameriprise Financial Inc. raised its holdings in Automatic Data Processing by 12.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 4,065,308 shares of the business services provider’s stock worth $964,989,000 after acquiring an additional 435,093 shares during the period. Legal & General Group Plc lifted its position in Automatic Data Processing by 4.1% during the 2nd quarter. Legal & General Group Plc now owns 3,548,165 shares of the business services provider’s stock worth $846,912,000 after acquiring an additional 139,561 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Automatic Data Processing by 1.3% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,238,526 shares of the business services provider’s stock valued at $896,197,000 after acquiring an additional 41,709 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of a number of recent analyst reports. Jefferies Financial Group lifted their price objective 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. UBS Group lifted their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Citigroup raised their price objective on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Mizuho upped their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a report on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $296.36 on Thursday. 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 firm has a 50-day moving average price of $297.49 and a 200 day moving average price of $281.46. The firm has a market capitalization of $120.75 billion, a PE ratio of 31.63, a price-to-earnings-growth ratio of 3.45 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $309.63.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.77 billion. During the same quarter last year, the company earned $2.08 EPS. Automatic Data Processing’s revenue was up 7.1% on a year-over-year basis. Research analysts anticipate that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company 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 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Insider Buying and Selling

In other news, CEO Maria Black sold 721 shares of the company’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 transaction of $210,236.39. Following the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the completion of the sale, the vice president now directly owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 in the last quarter. 0.21% of the stock is owned by corporate insiders.

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.