Dynasty Wealth Management LLC Purchases 218 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Dynasty Wealth Management LLC lifted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 3.1% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,241 shares of the business services provider’s stock after buying an additional 218 shares during the period. Dynasty Wealth Management LLC’s holdings in Automatic Data Processing were worth $2,120,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of ADP. Golden State Equity Partners acquired a new position in Automatic Data Processing during the third quarter valued at approximately $553,000. Pinnacle Associates Ltd. boosted its holdings in shares of Automatic Data Processing by 1.9% in the 3rd quarter. Pinnacle Associates Ltd. now owns 30,387 shares of the business services provider’s stock valued at $8,409,000 after buying an additional 552 shares during the last quarter. Diversify Wealth Management LLC grew its stake in shares of Automatic Data Processing by 18.5% in the third quarter. Diversify Wealth Management LLC now owns 5,570 shares of the business services provider’s stock valued at $1,616,000 after buying an additional 869 shares in the last quarter. SteelPeak Wealth LLC increased its holdings in Automatic Data Processing by 3.3% during the third quarter. SteelPeak Wealth LLC now owns 1,235 shares of the business services provider’s stock worth $343,000 after buying an additional 40 shares during the last quarter. Finally, JFS Wealth Advisors LLC raised its position in Automatic Data Processing by 72.8% during the third quarter. JFS Wealth Advisors LLC now owns 1,709 shares of the business services provider’s stock worth $473,000 after acquiring an additional 720 shares in the last quarter. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ADP shares. TD Cowen upped their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Mizuho boosted their target price on Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a report on Monday, November 4th. StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Jefferies Financial Group upped their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and a consensus target price of $293.55.

Automatic Data Processing Stock Down 0.0 %

Shares of ADP opened at $311.30 on Friday. 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 12 month low of $231.27 and a 12 month high of $315.29. The firm’s 50 day moving average is $300.24 and its 200-day moving average is $291.53. The stock has a market capitalization of $126.84 billion, a PE ratio of 32.46, a P/E/G ratio of 3.62 and a beta of 0.79.

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 for the quarter, beating 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 forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 64.23%.

Insider Activity

In related news, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the transaction, the vice president now owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jonathan S. Lehberger sold 2,324 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now directly owns 3,063 shares of the company’s stock, valued at $929,007.90. This represents a 43.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Insiders own 0.21% of the company’s stock.

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.