Focus Partners Advisor Solutions LLC Boosts Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

Focus Partners Advisor Solutions LLC increased its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP - Free Report) by 48.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,876 shares of the business services provider's stock after acquiring an additional 3,217 shares during the quarter. Focus Partners Advisor Solutions LLC's holdings in Automatic Data Processing were worth $2,891,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ADP. Kolinsky Wealth Management LLC boosted its holdings in shares of Automatic Data Processing by 15.1% during the 4th quarter. Kolinsky Wealth Management LLC now owns 1,205 shares of the business services provider's stock worth $353,000 after purchasing an additional 158 shares during the last quarter. Ames National Corp purchased a new position in Automatic Data Processing during the fourth quarter worth approximately $1,749,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Automatic Data Processing by 16.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,771,011 shares of the business services provider's stock worth $1,103,888,000 after buying an additional 532,485 shares during the last quarter. Waverly Advisors LLC grew its holdings in Automatic Data Processing by 84.5% in the 4th quarter. Waverly Advisors LLC now owns 12,001 shares of the business services provider's stock valued at $3,513,000 after buying an additional 5,496 shares in the last quarter. Finally, Woodline Partners LP purchased a new stake in Automatic Data Processing in the 4th quarter valued at $47,967,000. Hedge funds and other institutional investors own 80.03% of the company's stock.

Insider Activity at Automatic Data Processing

In other Automatic Data Processing news, VP Brian L. Michaud sold 1,500 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were 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 represents a 11.05% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, VP Christopher D'ambrosio sold 473 shares of the firm's stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. The trade was a 6.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,451 shares of company stock worth $743,024. Company insiders own 0.21% of the company's stock.

Automatic Data Processing Price Performance

ADP opened at $322.63 on Thursday. The stock's 50-day moving average price is $300.13 and its 200 day moving average price is $300.69. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $323.66. The firm has a market cap of $130.96 billion, a price-to-earnings ratio of 33.64, a PEG 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 - Get Free Report) last issued 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. The business had revenue of $5.55 billion for the quarter, compared to analysts' expectations of $5.49 billion. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. The business's quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.88 earnings per share. As a group, sell-side analysts expect that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 1st. Stockholders of record on Friday, June 13th will be paid a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.91%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing's payout ratio is currently 63.05%.

Wall Street Analyst Weigh In

ADP has been the topic of several analyst reports. Royal Bank of Canada reiterated a "sector perform" rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, May 1st. Barclays boosted their target price 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. StockNews.com downgraded shares of Automatic Data Processing from a "buy" rating to a "hold" rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price objective on Automatic Data Processing from $290.00 to $305.00 and gave the company a "hold" rating in a report on Thursday, January 30th. Finally, TD Securities raised their target price on Automatic Data Processing from $298.00 to $321.00 and gave the stock a "hold" rating in a research note on Wednesday. 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $305.64.

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.

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