Accredited Wealth Management LLC Makes New $1.13 Million Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Accredited Wealth Management LLC purchased a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,842 shares of the business services provider's stock, valued at approximately $1,131,000. Automatic Data Processing comprises approximately 1.0% of Accredited Wealth Management LLC's holdings, making the stock its 25th biggest position.

A number of other large investors have also recently added to or reduced their stakes in ADP. Cyrus J. Lawrence LLC raised its position 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 buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC acquired a new position in shares of Automatic Data Processing during the 4th quarter valued at about $37,000. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the fourth quarter valued at approximately $37,000. HHM Wealth Advisors LLC purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $41,000. Finally, Kieckhefer Group LLC purchased a new position in shares of Automatic Data Processing in the 4th quarter worth $42,000. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.3 %

Shares of ADP traded up $4.08 during mid-day trading on Thursday, reaching $309.26. The company's stock had a trading volume of 449,038 shares, compared to its average volume of 1,684,175. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $125.54 billion, a price-to-earnings ratio of 32.25, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The business has a fifty day moving average of $297.68 and a 200 day moving average of $298.95.

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 analysts' consensus estimates of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analyst estimates of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The firm's revenue was up 5.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.88 earnings per share. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders 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 dividend yield of 1.99%. Automatic Data Processing's dividend payout ratio is 63.05%.

Insider Buying and Selling at Automatic Data Processing

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

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. TD Securities boosted their price objective on Automatic Data Processing from $296.00 to $298.00 and gave the stock a "hold" rating in a research note on Thursday, May 1st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, May 1st. Stifel Nicolaus boosted their target price on shares of Automatic Data Processing to $305.00 and gave the stock a "buy" rating in a research report on Friday, May 2nd. Finally, UBS Group lifted their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a "neutral" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has an average 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.