Prestige Wealth Management Group LLC Purchases 278 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Prestige Wealth Management Group LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,603 shares of the business services provider’s stock after purchasing an additional 278 shares during the period. Prestige Wealth Management Group LLC’s holdings in Automatic Data Processing were worth $1,649,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new stake in shares of Automatic Data Processing during the 3rd quarter valued at approximately $26,000. Dunhill Financial LLC raised its holdings in shares of Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after acquiring an additional 149 shares in the last quarter. Cyrus J. Lawrence LLC lifted its holdings in shares of Automatic Data Processing by 121.8% during the 4th quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock worth $35,000 after acquiring an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth about $37,000. Finally, Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the fourth quarter worth approximately $37,000. Institutional investors own 80.03% of the company’s stock.

Insider Buying and Selling at Automatic Data Processing

In related news, VP David Foskett sold 1,004 shares of the business’s stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 5,951 shares of company stock valued at $1,762,074 over the last ninety days. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Automatic Data Processing Stock Up 1.2 %

Shares of ADP opened at $298.89 on Tuesday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The company’s 50-day moving average price is $303.26 and its 200 day moving average price is $295.70. The firm has a market cap of $121.78 billion, a P/E ratio of 31.17, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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, sell-side analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.06%. Automatic Data Processing’s dividend payout ratio (DPR) is 64.23%.

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.