Centric Wealth Management Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Centric Wealth Management grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 10,995 shares of the business services provider’s stock after acquiring an additional 123 shares during the period. Automatic Data Processing comprises 0.9% of Centric Wealth Management’s investment portfolio, making the stock its 28th biggest holding. Centric Wealth Management’s holdings in Automatic Data Processing were worth $3,219,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the stock. Littlejohn Financial Services Inc. purchased a new stake in Automatic Data Processing during the 4th quarter worth approximately $708,000. Nomura Asset Management Co. Ltd. lifted its stake in Automatic Data Processing by 5.8% in the third quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after acquiring an additional 15,340 shares during the last quarter. Bath Savings Trust Co grew its holdings in Automatic Data Processing by 2.0% during the 4th quarter. Bath Savings Trust Co now owns 99,299 shares of the business services provider’s stock worth $29,068,000 after acquiring an additional 1,951 shares in the last quarter. Principal Financial Group Inc. increased its position in shares of Automatic Data Processing by 4.5% in the 3rd quarter. Principal Financial Group Inc. now owns 529,690 shares of the business services provider’s stock valued at $146,581,000 after purchasing an additional 22,766 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Automatic Data Processing by 8.4% in the 3rd quarter. Franklin Resources Inc. now owns 667,068 shares of the business services provider’s stock valued at $194,117,000 after purchasing an additional 51,828 shares in the last quarter. 80.03% of the stock is currently owned by institutional investors and hedge funds.

Automatic Data Processing Stock Up 1.6 %

Shares of NASDAQ ADP opened at $305.53 on Tuesday. 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 50-day moving average price of $304.05 and a 200 day moving average price of $296.64. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $322.84. The stock has a market capitalization of $124.49 billion, a price-to-earnings ratio of 31.86, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly 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%. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.02%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Barclays lifted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. Jefferies Financial Group raised their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Finally, Royal Bank of Canada restated 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. One analyst has rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and an average target price of $302.30.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were 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 $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Christopher D’ambrosio sold 473 shares of Automatic Data Processing stock in a transaction that occurred on Monday, March 10th. The stock was sold at an average price of $306.20, for a total value of $144,832.60. Following the transaction, the vice president now 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 disclosure for this sale can be found here. Insiders sold 5,951 shares of company stock valued at $1,762,074 in the last 90 days. 0.21% of the stock is currently owned by insiders.

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.