GM Advisory Group LLC Acquires 789 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

GM Advisory Group LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 26.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,731 shares of the business services provider’s stock after buying an additional 789 shares during the quarter. GM Advisory Group LLC’s holdings in Automatic Data Processing were worth $1,092,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. bought a new position in shares of Automatic Data Processing during the 3rd quarter worth $26,000. Dunhill Financial LLC grew its position in shares of Automatic Data Processing by 346.5% during the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. Wingate Wealth Advisors Inc. bought a new position in shares of Automatic Data Processing during the 4th quarter worth $37,000. Finally, HHM Wealth Advisors LLC bought a new position in shares of Automatic Data Processing during the 4th quarter worth $41,000. Institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 0.2 %

Automatic Data Processing stock opened at $295.93 on Wednesday. The stock has a 50-day moving average of $302.66 and a two-hundred day moving average of $295.04. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.00 and a current ratio of 1.00. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $322.84. The stock has a market cap of $120.58 billion, a PE ratio of 30.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

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, beating 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%. On average, research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.08%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ADP. Jefferies Financial Group increased their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. UBS Group upped their price objective on Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 4th. Finally, Barclays upped their price objective on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $296.18.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction dated Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares of the company’s stock, valued at $2,218,112.80. The trade was a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated 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 directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 over the last quarter. 0.21% of the stock is currently owned by company insiders.

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.