Venturi Wealth Management LLC Has $2.31 Million Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Venturi Wealth Management LLC raised its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 16.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 7,890 shares of the business services provider’s stock after purchasing an additional 1,092 shares during the quarter. Venturi Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,310,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at $26,000. Dunhill Financial LLC raised its position 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 last quarter. Sugar Maple Asset Management LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. Capital Performance Advisors LLP bought a new stake in shares of Automatic Data Processing during the third quarter worth about $35,000. Finally, Wingate Wealth Advisors Inc. acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Insider Activity at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction dated Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares in the company, 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. Insiders sold 5,478 shares of company stock valued at $1,617,241 in the last three months. Corporate insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

Shares of ADP opened at $308.15 on Tuesday. The firm has a market cap of $125.56 billion, a PE ratio of 32.13, a price-to-earnings-growth ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $311.67. The business’s 50 day moving average price is $297.56 and its two-hundred day moving average price is $288.77. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00.

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

Automatic Data Processing Announces Dividend

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 paid a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.00%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Analyst Ratings Changes

Several research firms recently commented on ADP. Jefferies Financial Group lifted 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. UBS Group boosted their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, TD Cowen increased their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. Two equities 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 stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $293.55.

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.