Monument Group Wealth Advisors LLC Takes $208,000 Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Monument Group Wealth Advisors LLC bought a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 891 shares of the business services provider’s stock, valued at approximately $208,000.

Several other institutional investors also recently bought and sold shares of the stock. OFI Invest Asset Management bought a new position in shares of Automatic Data Processing during the 3rd quarter valued at about $25,000. Fortitude Family Office LLC purchased a new stake in shares of Automatic Data Processing in the fourth quarter worth about $35,000. Raleigh Capital Management Inc. boosted its stake in Automatic Data Processing by 106.0% during the third quarter. Raleigh Capital Management Inc. now owns 173 shares of the business services provider’s stock valued at $42,000 after buying an additional 89 shares during the last quarter. Carmel Capital Partners LLC grew its holdings in Automatic Data Processing by 43.4% during the 3rd quarter. Carmel Capital Partners LLC now owns 228 shares of the business services provider’s stock valued at $55,000 after buying an additional 69 shares in the last quarter. Finally, VisionPoint Advisory Group LLC increased its stake in Automatic Data Processing by 323.2% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 237 shares of the business services provider’s stock worth $57,000 after acquiring an additional 181 shares during the last quarter. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Stock Up 0.2 %

Shares of NASDAQ:ADP opened at $246.84 on Wednesday. The firm has a market capitalization of $101.40 billion, a PE ratio of 28.74, a price-to-earnings-growth ratio of 2.31 and a beta of 0.78. The business has a 50 day simple moving average of $247.09 and a two-hundred day simple moving average of $239.21. Automatic Data Processing, Inc. has a 1 year low of $201.46 and a 1 year high of $256.84. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.10 by $0.03. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The company had revenue of $4.67 billion during the quarter, compared to analysts’ expectations of $4.65 billion. During the same quarter in the previous year, the business earned $1.96 EPS. Automatic Data Processing’s revenue was up 6.3% compared to the same quarter last year. On average, equities analysts predict that Automatic Data Processing, Inc. will post 9.14 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 1st. Stockholders of record on Friday, June 14th will be issued a $1.40 dividend. This represents a $5.60 dividend on an annualized basis and a dividend yield of 2.27%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s payout ratio is presently 65.19%.

Analysts Set New Price Targets

A number of research firms recently weighed in on ADP. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Bank of America raised shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and lifted their price objective for the stock from $217.00 to $243.00 in a research note on Wednesday, January 17th. Evercore ISI upped their target price on shares of Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research report on Tuesday, March 26th. Mizuho lifted their price target on Automatic Data Processing from $265.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, March 11th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research note on Thursday, February 1st. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $254.58.

Insider Buying and Selling

In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $247.01, for a total value of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The transaction was disclosed in a filing with the SEC, which is available through this link. In other Automatic Data Processing news, VP Sreenivasa Kutam sold 368 shares of Automatic Data Processing stock in a transaction on Monday, March 4th. The stock was sold at an average price of $247.01, for a total transaction of $90,899.68. Following the completion of the sale, the vice president now directly owns 20,319 shares of the company’s stock, valued at approximately $5,018,996.19. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $245.00, for a total value of $2,776,585.00. Following the completion of the sale, the vice president now owns 19,906 shares of the company’s stock, valued at $4,876,970. The disclosure for this sale can be found here. Insiders have sold 15,162 shares of company stock valued at $3,741,859 in the last 90 days. Company insiders own 0.26% of the company’s stock.

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.