Oxbow Advisors LLC Boosts Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Oxbow Advisors LLC increased its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,173 shares of the business services provider’s stock after purchasing an additional 68 shares during the period. Oxbow Advisors LLC’s holdings in Automatic Data Processing were worth $1,807,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Tower Wealth Partners Inc. lifted its position in Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares in the last quarter. Harbour Investments Inc. lifted its position in Automatic Data Processing by 2.1% during the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after buying an additional 36 shares in the last quarter. Aspiriant LLC lifted its position in Automatic Data Processing by 1.5% during the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after buying an additional 36 shares in the last quarter. Precedent Wealth Partners LLC lifted its position in Automatic Data Processing by 0.7% during the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after buying an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC raised its position in Automatic Data Processing by 4.2% in the fourth quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 37 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $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 5,478 shares of company stock valued at $1,617,241 in the last three months. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Trading Down 0.4 %

ADP opened at $310.76 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $313.72. The stock has a market capitalization of $126.62 billion, a price-to-earnings ratio of 32.40, a PEG ratio of 3.65 and a beta of 0.79. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The business has a fifty day moving average price of $298.72 and a 200 day moving average price of $290.11.

Automatic Data Processing (NASDAQ:ADP) last released its earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. Sell-side 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 business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.98%. Automatic Data Processing’s payout ratio is 64.23%.

Analysts Set New Price Targets

A number of equities research analysts have commented on ADP shares. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group lifted their target price on Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research report on Thursday, January 30th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research report on Thursday, January 30th. Finally, Mizuho lifted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and an average price target of $293.55.

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.