Capital Investment Advisory Services LLC Purchases 355 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Capital Investment Advisory Services LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 23.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,847 shares of the business services provider’s stock after acquiring an additional 355 shares during the period. Capital Investment Advisory Services LLC’s holdings in Automatic Data Processing were worth $430,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. OFI Invest Asset Management bought a new position in Automatic Data Processing in the 3rd quarter valued at approximately $25,000. Fortitude Family Office LLC bought a new position in Automatic Data Processing in the 4th quarter valued at approximately $35,000. Raleigh Capital Management Inc. lifted 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 valued at $42,000 after purchasing an additional 89 shares during the last quarter. Carmel Capital Partners LLC lifted its stake in Automatic Data Processing by 43.4% in the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 69 shares during the last quarter. Finally, VisionPoint Advisory Group LLC lifted its stake in Automatic Data Processing by 323.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock valued at $57,000 after purchasing an additional 181 shares during the last quarter. Institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction on Thursday, February 22nd. The shares were sold at an average price of $255.00, for a total value of $485,520.00. Following the completion of the sale, the vice president now directly owns 17,179 shares in the company, valued at $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Sreenivasa Kutam sold 694 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were sold at an average price of $249.43, for a total transaction of $173,104.42. Following the completion of the transaction, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 15,162 shares of company stock worth $3,741,859. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ADP has been the subject of several research reports. Mizuho increased their price objective 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. Evercore ISI increased their price objective on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. 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 report on Thursday, February 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Tuesday, March 19th. Finally, Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and upped their price target for the company from $217.00 to $243.00 in a research 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 stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $254.58.

Automatic Data Processing Trading Up 0.2 %

ADP opened at $246.84 on Wednesday. Automatic Data Processing, Inc. has a twelve month low of $201.46 and a twelve month high of $256.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a fifty day moving average of $247.09 and a 200-day moving average of $239.21. The stock has a market cap of $101.40 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share for the quarter, topping the consensus estimate 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 during the quarter, compared to analysts’ expectations of $4.65 billion. During the same period in the prior year, the company posted $1.96 earnings per share. Automatic Data Processing’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Shareholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is 65.19%.

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.