Vestmark Advisory Solutions Inc. Purchases 1,403 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Vestmark Advisory Solutions Inc. boosted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 27.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,432 shares of the business services provider’s stock after buying an additional 1,403 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in Automatic Data Processing were worth $1,498,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ADP. OFI Invest Asset Management purchased a new position in Automatic Data Processing during the 3rd quarter worth $25,000. Fortitude Family Office LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $35,000. Raleigh Capital Management Inc. raised its stake in Automatic Data Processing by 106.0% in the 3rd quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock worth $42,000 after acquiring an additional 89 shares during the last quarter. Evolution Advisers Inc. purchased a new position in Automatic Data Processing in the 4th quarter worth $41,000. Finally, Bfsg LLC purchased a new position in Automatic Data Processing in the 4th quarter worth $42,000. 80.03% of the stock is owned by institutional investors.

Insider Activity

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

Automatic Data Processing Stock Performance

NASDAQ:ADP traded up $0.55 during mid-day trading on Monday, reaching $242.44. The stock had a trading volume of 62,029 shares, compared to its average volume of 1,775,964. 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 firm has a market capitalization of $99.23 billion, a price-to-earnings ratio of 27.00, a PEG ratio of 2.30 and a beta of 0.78. Automatic Data Processing, Inc. has a twelve month low of $205.53 and a twelve month high of $256.84. The business has a 50 day simple moving average of $245.63 and a 200 day simple moving average of $238.95.

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

Automatic Data Processing Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be paid a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio is presently 62.50%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Automatic Data Processing from $254.00 to $250.00 and set an “underweight” rating for the company in a research note on Thursday. Barclays lifted their price objective on Automatic Data Processing from $280.00 to $282.00 and gave the company an “overweight” rating in a research note on Thursday. TD Cowen reduced their price target on Automatic Data Processing from $253.00 to $251.00 and set a “hold” rating for the company in a report on Thursday. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Finally, Evercore ISI boosted their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the stock an “underperform” rating in a research note on Tuesday, March 26th. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $255.42.

Automatic Data Processing 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.