Lake Street Advisors Group LLC Has $3.09 Million Stock Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Lake Street Advisors Group LLC grew its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.0% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 10,498 shares of the business services provider’s stock after buying an additional 210 shares during the period. Lake Street Advisors Group LLC’s holdings in Automatic Data Processing were worth $3,089,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Moloney Securities Asset Management LLC bought a new position in Automatic Data Processing during the 3rd quarter valued at about $209,000. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing in the fourth quarter worth $708,000. Nomura Asset Management Co. Ltd. lifted its holdings in Automatic Data Processing by 5.8% during 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 in the last quarter. RIA Advisory Group LLC bought a new stake in Automatic Data Processing during the 3rd quarter worth approximately $470,000. Finally, Dash Acquisitions Inc. lifted its position in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on ADP. Jefferies Financial Group raised their target price 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. Mizuho upped their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research note on Monday, November 4th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 target price on shares of Automatic Data Processing in a research note on Thursday, January 30th. Finally, Barclays boosted 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. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $293.55.

Insider Activity

In related news, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the transaction, the vice president now directly owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This represents a 43.14 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock worth $1,617,241 in the last 90 days. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Trading Up 0.4 %

Shares of ADP stock opened at $313.37 on Wednesday. The stock has a market cap of $127.69 billion, a P/E ratio of 32.68, a P/E/G ratio of 3.62 and a beta of 0.79. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $314.70. The business has a fifty day simple moving average of $299.38 and a 200-day simple moving average of $291.25.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results 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%. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be paid a $1.54 dividend. This represents a $6.16 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is 64.23%.

Automatic Data Processing 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.