Curio Wealth LLC Invests $120,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Curio Wealth LLC bought a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, Holdings Channel.com reports. The firm bought 410 shares of the business services provider’s stock, valued at approximately $120,000.

Several other institutional investors and hedge funds also recently modified their holdings of ADP. Littlejohn Financial Services Inc. purchased a new position in Automatic Data Processing in the 4th quarter valued at about $708,000. Nomura Asset Management Co. Ltd. boosted its position in Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after buying an additional 15,340 shares during the last quarter. DRW Securities LLC purchased a new position in Automatic Data Processing in the 3rd quarter valued at about $951,000. Harvest Fund Management Co. Ltd boosted its position in Automatic Data Processing by 51.1% in the 3rd quarter. Harvest Fund Management Co. Ltd now owns 18,925 shares of the business services provider’s stock valued at $5,236,000 after buying an additional 6,399 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Automatic Data Processing by 12.0% in the 3rd quarter. Daiwa Securities Group Inc. now owns 82,736 shares of the business services provider’s stock valued at $22,896,000 after buying an additional 8,846 shares during the last quarter. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on ADP. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Barclays increased their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group increased their price objective 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. Finally, Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has an average rating of “Hold” and an average price target of $296.18.

Insider Transactions at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the business’s stock in a transaction that occurred on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

NASDAQ:ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84. The firm has a market capitalization of $118.88 billion, a P/E ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76. 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 50 day simple moving average of $302.32 and a 200 day simple moving average of $294.74.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be given 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 dividend yield of 2.11%. 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.