Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Beverly Hills Private Wealth LLC

Beverly Hills Private Wealth LLC increased its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 12.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 969 shares of the business services provider’s stock after purchasing an additional 110 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Automatic Data Processing were worth $284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in ADP. Benjamin Edwards Inc. raised its position in shares of Automatic Data Processing by 2.8% in the 4th quarter. Benjamin Edwards Inc. now owns 202,516 shares of the business services provider’s stock valued at $59,299,000 after purchasing an additional 5,594 shares in the last quarter. BLI Banque de Luxembourg Investments bought a new position in Automatic Data Processing during the 4th quarter valued at $4,775,000. Ameriprise Financial Inc. grew its holdings in Automatic Data Processing by 16.7% during the 4th quarter. Ameriprise Financial Inc. now owns 3,830,078 shares of the business services provider’s stock worth $1,115,909,000 after acquiring an additional 549,132 shares in the last quarter. Alteri Wealth LLC bought a new stake in shares of Automatic Data Processing in the 4th quarter worth about $272,000. Finally, Aptus Capital Advisors LLC raised its stake in shares of Automatic Data Processing by 35.8% in the 4th quarter. Aptus Capital Advisors LLC now owns 29,113 shares of the business services provider’s stock valued at $8,532,000 after purchasing an additional 7,670 shares in the last quarter. 80.03% of the stock is owned by institutional investors and hedge funds.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $303.96 on Tuesday. The firm’s 50 day moving average is $298.04 and its two-hundred day moving average is $298.88. The firm has a market capitalization of $123.85 billion, a P/E ratio of 31.70, 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, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its 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. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. The firm had revenue of $5.55 billion for the quarter, compared to the consensus estimate of $5.49 billion. During the same quarter in the previous year, the business earned $2.88 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Analysts anticipate that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

ADP has been the subject of several research analyst reports. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, May 1st. UBS Group boosted their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research note on Tuesday, March 4th. Barclays raised 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. Finally, TD Securities boosted 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, May 1st. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $303.55.

Insider Buying and Selling at Automatic Data Processing

In related news, VP Christopher D’ambrosio sold 473 shares of the stock in a transaction that occurred 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 directly owns 7,244 shares of the company’s stock, valued at $2,218,112.80. This represents a 6.13 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 1,500 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now owns 12,073 shares in the company, valued at approximately $3,686,852.74. This trade represents a 11.05 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,451 shares of company stock valued at $743,024. 0.21% of the stock is owned by corporate insiders.

About Automatic Data Processing

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.