AJOVista LLC Purchases New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

AJOVista LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 669 shares of the business services provider’s stock, valued at approximately $156,000.

A number of other large investors have also recently made changes to their positions in ADP. Ardent Capital Management Inc. bought a new stake in Automatic Data Processing in the third quarter worth $392,000. Americana Partners LLC grew its holdings in Automatic Data Processing by 3.1% during the 3rd quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock valued at $5,330,000 after purchasing an additional 660 shares during the last quarter. Everence Capital Management Inc. grew its holdings in Automatic Data Processing by 28.5% during the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock valued at $3,995,000 after purchasing an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC raised its position in Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after purchasing an additional 5,318 shares during the period. Finally, BKM Wealth Management LLC bought a new stake in Automatic Data Processing in the fourth quarter worth about $1,635,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ADP shares. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI upped their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho increased their target price on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, March 11th. TD Cowen lowered their target price on shares of Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a research note on Thursday. Finally, JPMorgan Chase & Co. cut their price target on shares of Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating on the stock in a report on Thursday. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $255.42.

Insider Activity at Automatic Data Processing

In other news, VP Sreenivasa Kutam sold 368 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the sale, the vice president now directly owns 20,319 shares in the company, valued at approximately $5,018,996.19. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Joseph Desilva sold 1,904 shares of the company’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total transaction of $485,520.00. Following the transaction, the vice president now owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now owns 20,319 shares of the company’s stock, valued at $5,018,996.19. The disclosure for this sale can be found here. Insiders have sold a total of 3,829 shares of company stock valued at $965,274 over the last quarter. 0.26% of the stock is owned by corporate insiders.

Automatic Data Processing Stock Down 0.1 %

Automatic Data Processing stock traded down $0.14 during midday trading on Friday, hitting $241.89. 1,491,532 shares of the company’s stock were exchanged, compared to its average volume of 1,451,137. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month high of $256.84. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $99.37 billion, a PE ratio of 27.00, a P/E/G ratio of 2.27 and a beta of 0.78. The firm has a 50-day moving average of $245.63 and a two-hundred day moving average of $239.08.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data on Wednesday, May 1st. The business services provider reported $2.88 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.79 by $0.09. The company had revenue of $5.30 billion for the quarter, compared to analyst estimates of $5.22 billion. Automatic Data Processing had a net margin of 19.56% and a return on equity of 93.09%. Automatic Data Processing’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.52 earnings per share. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.15 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be paid a dividend of $1.40 per share. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.32%. The ex-dividend date of this dividend is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 62.50%.

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.