2,854 Shares in Automatic Data Processing, Inc. (NASDAQ:ADP) Bought by Wayfinding Financial LLC

Wayfinding Financial LLC purchased a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 2,854 shares of the business services provider’s stock, valued at approximately $839,000.

A number of other institutional investors also recently bought and sold shares of the stock. Itau Unibanco Holding S.A. bought a new stake in shares of Automatic Data Processing during the third quarter worth $26,000. Dunhill Financial LLC grew its stake in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after purchasing an additional 149 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the fourth quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $41,000. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $297.51 on Friday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The business’s fifty day simple moving average is $302.91 and its 200-day simple moving average is $295.08. The firm has a market cap of $121.22 billion, a PE ratio of 31.02, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59.

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

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. This represents a $6.16 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s payout ratio is 64.23%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on ADP. Barclays boosted their price target 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. Royal Bank of Canada reissued a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. UBS Group upped their target price 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. Jefferies Financial Group boosted 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. Finally, StockNews.com cut Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $296.18.

Insider Buying and Selling

In related news, VP Christopher D’ambrosio sold 473 shares of the 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 transaction, the vice president now owns 7,244 shares of the company’s stock, valued at approximately $2,218,112.80. This represents a 6.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares in the company, valued at $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,951 shares of company stock valued at $1,762,074. Corporate insiders own 0.21% 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.