Commonwealth Retirement Investments LLC Has $1.49 Million Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Commonwealth Retirement Investments LLC boosted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,103 shares of the business services provider’s stock after acquiring an additional 85 shares during the quarter. Commonwealth Retirement Investments LLC’s holdings in Automatic Data Processing were worth $1,494,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. Mengis Capital Management Inc. raised its stake in Automatic Data Processing by 2.6% during the fourth quarter. Mengis Capital Management Inc. now owns 10,173 shares of the business services provider’s stock worth $2,978,000 after acquiring an additional 255 shares in the last quarter. BankPlus Trust Department acquired a new position in Automatic Data Processing during the fourth quarter worth $3,709,000. Crestwood Advisors Group LLC raised its stake in Automatic Data Processing by 8.2% during the fourth quarter. Crestwood Advisors Group LLC now owns 4,514 shares of the business services provider’s stock worth $1,322,000 after acquiring an additional 344 shares in the last quarter. IFP Advisors Inc increased its stake in shares of Automatic Data Processing by 24.1% in the fourth quarter. IFP Advisors Inc now owns 15,456 shares of the business services provider’s stock valued at $4,524,000 after buying an additional 3,000 shares in the last quarter. Finally, Dover Advisors LLC acquired a new stake in shares of Automatic Data Processing in the fourth quarter valued at $211,000. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Maria Black sold 721 shares of Automatic Data Processing stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the sale, 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 5,478 shares of company stock valued at $1,617,241 over the last 90 days. 0.21% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ADP has been the subject of a number of research reports. Jefferies Financial Group raised their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Barclays raised their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Trading Up 0.5 %

NASDAQ ADP opened at $312.20 on Tuesday. The firm has a market cap of $127.21 billion, a P/E ratio of 32.55, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The stock’s 50-day moving average is $299.03 and its 200-day moving average is $290.89. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $314.06.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping analysts’ consensus estimates of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. Sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

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.