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

Alteri Wealth LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund bought 930 shares of the business services provider’s stock, valued at approximately $272,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Cyrus J. Lawrence LLC increased its holdings in Automatic Data Processing by 121.8% during the fourth quarter. Cyrus J. Lawrence LLC now owns 122 shares of the business services provider’s stock valued at $35,000 after buying an additional 67 shares during the last quarter. Sugar Maple Asset Management LLC bought a new stake in shares of Automatic Data Processing during the 4th quarter valued at $37,000. Wingate Wealth Advisors Inc. purchased a new stake in shares of Automatic Data Processing in the 4th quarter worth $37,000. HHM Wealth Advisors LLC bought a new position in Automatic Data Processing in the 4th quarter worth $41,000. Finally, Kieckhefer Group LLC purchased a new position in Automatic Data Processing during the fourth quarter valued at $42,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction on Monday, February 3rd. The stock was sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at $929,007.90. This trade represents a 43.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of the business’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 transaction, the vice president now owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 4,775 shares of company stock worth $1,447,893 over the last 90 days. 0.21% of the stock is owned by insiders.

Automatic Data Processing Trading Up 1.6 %

Shares of Automatic Data Processing stock opened at $303.57 on Friday. 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 firm has a market cap of $123.69 billion, a price-to-earnings ratio of 31.65, a PEG ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The business has a 50-day moving average price of $298.19 and a 200-day moving average price of $298.75.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, April 30th. The business services provider reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $5.55 billion during the quarter, compared to analysts’ expectations of $5.49 billion. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm’s revenue for the quarter was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $2.88 EPS. Equities research analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 1st. Investors of record on Friday, June 13th will be paid a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Friday, June 13th. Automatic Data Processing’s payout ratio is 63.05%.

Wall Street Analyst Weigh In

ADP has been the subject of a number of analyst reports. Royal Bank of Canada restated a “sector perform” rating and issued a $315.00 price target on shares of Automatic Data Processing in a research report on Thursday. Jefferies Financial Group raised 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. Barclays upped their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. TD Securities raised their price objective on shares of Automatic Data Processing from $296.00 to $298.00 and gave the company a “hold” rating in a research report on Thursday. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $303.55.

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.