Cyndeo Wealth Partners LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 11.5% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,061 shares of the business services provider's stock after acquiring an additional 3,204 shares during the quarter. Cyndeo Wealth Partners LLC's holdings in Automatic Data Processing were worth $9,490,000 at the end of the most recent quarter.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in shares of Automatic Data Processing by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 40,731,270 shares of the business services provider's stock worth $11,923,265,000 after buying an additional 277,324 shares in the last quarter. Geode Capital Management LLC raised its position in Automatic Data Processing by 0.6% in the fourth quarter. Geode Capital Management LLC now owns 10,583,607 shares of the business services provider's stock worth $3,098,305,000 after acquiring an additional 65,965 shares in the last quarter. Northern Trust Corp lifted its holdings in Automatic Data Processing by 17.1% in the 4th quarter. Northern Trust Corp now owns 6,174,419 shares of the business services provider's stock valued at $1,807,438,000 after acquiring an additional 902,354 shares during the last quarter. Capital Research Global Investors boosted its position in shares of Automatic Data Processing by 26.9% during the 4th quarter. Capital Research Global Investors now owns 6,136,763 shares of the business services provider's stock valued at $1,796,415,000 after purchasing an additional 1,299,390 shares in the last quarter. Finally, Invesco Ltd. boosted its position in shares of Automatic Data Processing by 6.0% during the 4th quarter. Invesco Ltd. now owns 3,886,552 shares of the business services provider's stock valued at $1,137,710,000 after purchasing an additional 219,032 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company's stock.
Insiders Place Their Bets
In other Automatic Data Processing news, VP Christopher D'ambrosio sold 478 shares of the stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $293.14, for a total transaction of $140,120.92. Following the transaction, the vice president now owns 7,364 shares in the company, valued at $2,158,682.96. This trade represents a 6.10% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of the business's stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $305.38, for a total transaction of $458,070.00. Following the completion of the sale, the vice president now owns 12,073 shares of the company's stock, valued at $3,686,852.74. The trade was a 11.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.21% of the company's stock.
Automatic Data Processing Stock Down 0.1%
ADP stock traded down $0.29 during midday trading on Tuesday, reaching $307.62. The company had a trading volume of 2,257,863 shares, compared to its average volume of 1,711,801. The company has a 50 day moving average of $308.69 and a two-hundred day moving average of $302.86. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.51. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $329.93. The company has a market capitalization of $124.87 billion, a P/E ratio of 31.32, a PEG ratio of 3.20 and a beta of 0.79.
Automatic Data Processing (NASDAQ:ADP - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The business services provider reported $3.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.97 by $0.09. Automatic Data Processing had a return on equity of 77.33% and a net margin of 19.79%. The firm had revenue of $5.55 billion during the quarter, compared to analysts' expectations of $5.49 billion. During the same quarter last year, the firm earned $2.88 earnings per share. The business's revenue for the quarter was up 5.7% on a year-over-year basis. On average, equities research analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.
Automatic Data Processing Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 1st. Shareholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date is Friday, June 13th. Automatic Data Processing's dividend payout ratio (DPR) is presently 63.05%.
Analysts Set New Price Targets
Several analysts recently commented on the stock. UBS Group cut their target price on shares of Automatic Data Processing from $323.00 to $315.00 and set a "neutral" rating for the company in a research note on Friday. Royal Bank Of Canada reiterated a "sector perform" rating and set a $315.00 price objective on shares of Automatic Data Processing in a research report on Thursday, June 5th. Mizuho lifted their target price on Automatic Data Processing from $321.00 to $332.00 and gave the stock an "outperform" rating in a report on Friday. Stifel Nicolaus upped their target price on Automatic Data Processing to $305.00 and gave the company a "buy" rating in a report on Friday, May 2nd. Finally, Morgan Stanley lifted their price target on Automatic Data Processing from $305.00 to $310.00 and gave the stock an "equal weight" rating in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of "Hold" and a consensus price target of $307.08.
View Our Latest Research Report on Automatic Data Processing
About Automatic Data Processing
(
Free Report)
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.
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