Evergreen Wealth Solutions LLC Acquires New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Evergreen Wealth Solutions LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 941 shares of the business services provider's stock, valued at approximately $275,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in ADP. Virtu Financial LLC boosted its holdings in shares of Automatic Data Processing by 202.7% in the 3rd quarter. Virtu Financial LLC now owns 4,870 shares of the business services provider's stock valued at $1,348,000 after acquiring an additional 3,261 shares during the last quarter. Tudor Financial Inc. acquired a new stake in Automatic Data Processing during the 3rd quarter worth about $310,000. Anchor Investment Management LLC raised its stake in shares of Automatic Data Processing by 7.0% during the 3rd quarter. Anchor Investment Management LLC now owns 15,384 shares of the business services provider's stock valued at $4,257,000 after buying an additional 1,001 shares during the last quarter. Pine Valley Investments Ltd Liability Co boosted its stake in shares of Automatic Data Processing by 3.5% in the third quarter. Pine Valley Investments Ltd Liability Co now owns 9,935 shares of the business services provider's stock worth $2,753,000 after buying an additional 337 shares during the last quarter. Finally, World Investment Advisors LLC raised its position in Automatic Data Processing by 22.6% during the third quarter. World Investment Advisors LLC now owns 7,466 shares of the business services provider's stock valued at $2,066,000 after acquiring an additional 1,378 shares in the last quarter. Hedge funds and other institutional investors own 80.03% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada reaffirmed a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday. Barclays lifted 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. Jefferies Financial Group increased their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a "hold" rating in a research note on Thursday, January 30th. TD Securities lifted their price target on Automatic Data Processing from $296.00 to $298.00 and gave the company a "hold" rating in a research note on Thursday. Finally, StockNews.com downgraded Automatic Data Processing from a "buy" rating to a "hold" rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $303.55.

Insiders Place Their Bets

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the business'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 transaction, the vice president now directly owns 12,073 shares in the company, valued at $3,686,852.74. The trade was a 11.05 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total transaction of $144,832.60. Following the sale, the vice president now owns 7,244 shares of the company's stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 4,775 shares of company stock valued at $1,447,893 in the last ninety days. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP traded up $4.88 during midday trading on Friday, hitting $303.57. The stock had a trading volume of 1,720,848 shares, compared to its average volume of 1,687,165. 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 stock has a 50 day simple moving average of $298.19 and a 200-day simple moving average of $298.69. The company has a market capitalization of $123.69 billion, a PE ratio of 31.65, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84.

Automatic Data Processing (NASDAQ:ADP - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The company had revenue of $5.55 billion for the quarter, compared to analyst estimates of $5.49 billion. During the same quarter last year, the firm posted $2.88 EPS. The firm's revenue for the quarter was up 5.7% on a year-over-year basis. On average, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.54 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. Automatic Data Processing's payout ratio is 63.05%.

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.