Successful Portfolios LLC Buys 52 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Successful Portfolios LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,040 shares of the business services provider’s stock after buying an additional 52 shares during the quarter. Successful Portfolios LLC’s holdings in Automatic Data Processing were worth $242,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ardent Capital Management Inc. acquired a new position in Automatic Data Processing in the 3rd quarter worth about $392,000. Americana Partners LLC grew its holdings in Automatic Data Processing by 3.1% during the third 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 period. Cyndeo Wealth Partners LLC grew its position in Automatic Data Processing by 36.7% during the fourth quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock worth $4,613,000 after buying an additional 5,318 shares in the last quarter. BKM Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $1,635,000. Finally, Wayfinding Financial LLC lifted its stake in shares of Automatic Data Processing by 6.4% in the 3rd quarter. Wayfinding Financial LLC now owns 2,907 shares of the business services provider’s stock valued at $695,000 after acquiring an additional 174 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ADP shares. Royal Bank of Canada restated a “sector perform” rating and issued a $267.00 price target on shares of Automatic Data Processing in a research note on Thursday, February 1st. Evercore ISI boosted their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a report on Tuesday. Wolfe Research upgraded shares of Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Mizuho increased their price target on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, March 11th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $253.08.

Automatic Data Processing Stock Up 0.6 %

Shares of ADP stock traded up $1.41 during trading on Thursday, hitting $249.74. 1,297,685 shares of the company were exchanged, compared to its average volume of 1,902,349. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market capitalization of $102.59 billion, a price-to-earnings ratio of 29.06, a P/E/G ratio of 2.30 and a beta of 0.78. The business’s 50-day simple moving average is $246.48 and its 200 day simple moving average is $238.98. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The company had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter last year, the firm posted $1.96 earnings per share. The company’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.14 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Friday, March 8th will be paid a $1.40 dividend. The ex-dividend date of this dividend is Thursday, March 7th. This represents a $5.60 annualized dividend and a dividend yield of 2.24%. Automatic Data Processing’s dividend payout ratio is presently 65.19%.

Insider Activity

In related news, VP John Ayala sold 1,500 shares of the company’s stock in a transaction dated Tuesday, January 16th. The shares were sold at an average price of $235.13, for a total transaction of $352,695.00. Following the transaction, the vice president now owns 19,183 shares in the company, valued at approximately $4,510,498.79. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Don Mcguire sold 11,333 shares of the stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total transaction of $2,776,585.00. Following the completion of the sale, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John Ayala sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $235.13, for a total value of $352,695.00. Following the transaction, the vice president now directly owns 19,183 shares of the company’s stock, valued at approximately $4,510,498.79. The disclosure for this sale can be found here. In the last quarter, insiders have sold 16,662 shares of company stock worth $4,094,554. Corporate insiders own 0.26% of the company’s stock.

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.