Alteri Wealth LLC Purchases New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Alteri Wealth LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm acquired 930 shares of the business services provider's stock, valued at approximately $272,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Cyrus J. Lawrence LLC boosted its stake in shares of Automatic Data Processing by 121.8% in the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider's stock valued at $35,000 after purchasing an additional 67 shares during the period. Sugar Maple Asset Management LLC purchased a new position in Automatic Data Processing in the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter valued at about $37,000. HHM Wealth Advisors LLC purchased a new stake in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Finally, Kieckhefer Group LLC acquired a new position in shares of Automatic Data Processing in the fourth quarter worth about $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $293.14, for a total value of $140,120.92. Following the completion of the sale, the vice president now directly owns 7,364 shares of the company's stock, valued at approximately $2,158,682.96. This represents a 6.10 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Brian L. Michaud sold 1,500 shares of the company's stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $305.38, for a total value of $458,070.00. Following the completion of the transaction, the vice president now owns 12,073 shares in the company, valued at $3,686,852.74. This represents a 11.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,451 shares of company stock worth $743,024 over the last ninety days. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP traded up $0.41 during trading hours on Friday, hitting $307.50. 293,119 shares of the company's stock traded hands, compared to its average volume of 1,857,261. The company's fifty day simple moving average is $297.45 and its two-hundred day simple moving average is $299.06. The company has a market cap of $124.82 billion, a price-to-earnings ratio of 32.06, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. 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 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter in the previous year, the business posted $2.88 earnings per share. The firm's quarterly revenue was up 5.7% compared to the same quarter last year. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be issued a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing's payout ratio is presently 63.05%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ADP shares. UBS Group increased their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a "neutral" rating in a research note on Tuesday, March 4th. Jefferies Financial Group lifted their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. Barclays increased their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, May 1st. Finally, StockNews.com cut Automatic Data Processing from a "buy" rating to a "hold" rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $303.55.

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.