Premier Path Wealth Partners LLC Increases Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Premier Path Wealth Partners LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,207 shares of the business services provider’s stock after purchasing an additional 159 shares during the period. Premier Path Wealth Partners LLC’s holdings in Automatic Data Processing were worth $939,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Howard Financial Services LTD. purchased a new stake in Automatic Data Processing during the fourth quarter worth approximately $497,000. Verity & Verity LLC raised its holdings in Automatic Data Processing by 17.4% during the fourth quarter. Verity & Verity LLC now owns 2,976 shares of the business services provider’s stock worth $871,000 after purchasing an additional 442 shares in the last quarter. Arkadios Wealth Advisors lifted its position in shares of Automatic Data Processing by 5.7% during the 4th quarter. Arkadios Wealth Advisors now owns 5,003 shares of the business services provider’s stock worth $1,465,000 after buying an additional 270 shares during the last quarter. Spring Capital Management LLC boosted its holdings in shares of Automatic Data Processing by 4.3% in the 4th quarter. Spring Capital Management LLC now owns 21,146 shares of the business services provider’s stock valued at $6,190,000 after buying an additional 872 shares in the last quarter. Finally, Lake Street Private Wealth LLC grew its position in shares of Automatic Data Processing by 20.9% in the 4th quarter. Lake Street Private Wealth LLC now owns 1,123 shares of the business services provider’s stock valued at $329,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 80.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. 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. Jefferies Financial Group upped their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. StockNews.com raised Automatic Data Processing from a “hold” rating to a “buy” rating in a research report on Sunday. UBS Group increased their price objective on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Citigroup raised their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Performance

Shares of ADP opened at $296.18 on Friday. The stock has a market capitalization of $120.68 billion, a P/E ratio of 31.61, a P/E/G ratio of 3.34 and a beta of 0.79. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $309.63. The company’s fifty day moving average is $297.90 and its two-hundred day moving average is $279.99.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The business’s revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.08 earnings per share. On average, sell-side analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The firm 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 $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Insider Activity at Automatic Data Processing

In related news, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total transaction of $11,692,500.00. Following the sale, the vice president now owns 32,604 shares of the company’s stock, valued at approximately $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP David Foskett sold 1,067 shares of the stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares of the company’s stock, valued at approximately $1,756,961. This trade represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 42,129 shares of company stock worth $12,604,872 over the last three months. 0.21% of the stock is currently 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.