Avidian Wealth Enterprises LLC Has $413,000 Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Avidian Wealth Enterprises LLC grew its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 9.7% during the fourth quarter, Holdings Channel reports. The firm owned 1,410 shares of the business services provider’s stock after acquiring an additional 125 shares during the quarter. Avidian Wealth Enterprises LLC’s holdings in Automatic Data Processing were worth $413,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Kentucky Trust Co acquired a new position in shares of Automatic Data Processing in the 4th quarter valued at about $381,000. Gladstone Institutional Advisory LLC raised its stake in Automatic Data Processing by 12.7% during the 4th quarter. Gladstone Institutional Advisory LLC now owns 5,048 shares of the business services provider’s stock worth $1,478,000 after buying an additional 569 shares during the period. Community Financial Services Group LLC raised its stake in Automatic Data Processing by 2.1% during the 4th quarter. Community Financial Services Group LLC now owns 7,380 shares of the business services provider’s stock worth $2,160,000 after buying an additional 155 shares during the period. David Wealth Management LLC acquired a new position in Automatic Data Processing during the 4th quarter worth approximately $489,000. Finally, Portfolio Design Labs LLC raised its stake in Automatic Data Processing by 47.1% during the 4th quarter. Portfolio Design Labs LLC now owns 2,759 shares of the business services provider’s stock worth $808,000 after buying an additional 884 shares during the period. 80.03% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,478 shares of company stock valued at $1,617,241 over the last three months. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ADP. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. Mizuho upped their price target on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Barclays upped their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group upped their price target on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Finally, StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Performance

ADP stock opened at $310.22 on Friday. The firm has a market cap of $126.40 billion, a PE ratio of 32.35, a P/E/G ratio of 3.60 and a beta of 0.79. 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 business has a 50 day moving average of $297.32 and a 200-day moving average of $287.85. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. 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 Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a dividend yield of 1.99%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Automatic Data Processing Company 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.