Kestra Private Wealth Services LLC Increases Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Kestra Private Wealth Services LLC boosted its holdings in Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,113 shares of the business services provider’s stock after buying an additional 455 shares during the period. Kestra Private Wealth Services LLC’s holdings in Automatic Data Processing were worth $7,248,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Ardent Capital Management Inc. bought a new position in shares of Automatic Data Processing in the third quarter valued at approximately $392,000. Americana Partners LLC grew its position in Automatic Data Processing by 3.1% during the third quarter. Americana Partners LLC now owns 22,228 shares of the business services provider’s stock worth $5,330,000 after buying an additional 660 shares in the last quarter. Everence Capital Management Inc. increased its stake in Automatic Data Processing by 28.5% in the 4th quarter. Everence Capital Management Inc. now owns 17,150 shares of the business services provider’s stock worth $3,995,000 after acquiring an additional 3,800 shares during the last quarter. Cyndeo Wealth Partners LLC raised its holdings in shares of Automatic Data Processing by 36.7% in the 4th quarter. Cyndeo Wealth Partners LLC now owns 19,800 shares of the business services provider’s stock valued at $4,613,000 after acquiring an additional 5,318 shares in the last quarter. Finally, BKM Wealth Management LLC bought a new stake in Automatic Data Processing during the fourth quarter valued at approximately $1,635,000. Institutional investors own 80.03% of the company’s stock.

Analyst Upgrades and Downgrades

ADP has been the topic of several research reports. Bank of America upgraded shares of Automatic Data Processing from an “underperform” rating to a “neutral” rating and raised their price objective for the company from $217.00 to $243.00 in a research report on Wednesday, January 17th. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 price objective on shares of Automatic Data Processing in a research report on Thursday, February 1st. Mizuho increased their target price on shares of Automatic Data Processing from $265.00 to $272.00 and gave the company a “buy” rating in a report on Monday, March 11th. Evercore ISI raised their price objective on Automatic Data Processing from $227.00 to $235.00 and gave the company an “underperform” rating in a research note on Tuesday, March 26th. Finally, StockNews.com downgraded Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Tuesday, March 19th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, Automatic Data Processing has an average rating of “Hold” and a consensus target price of $258.36.

Automatic Data Processing Stock Down 0.2 %

ADP traded down $0.40 during trading on Tuesday, reaching $243.55. The stock had a trading volume of 428,351 shares, compared to its average volume of 1,769,268. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.69. The company has a market capitalization of $100.05 billion, a price-to-earnings ratio of 28.40, a P/E/G ratio of 2.28 and a beta of 0.78. The stock’s 50 day moving average is $246.51 and its two-hundred day moving average is $239.10. Automatic Data Processing, Inc. has a one year low of $205.53 and a one year high of $256.84.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings data on Wednesday, January 31st. The business services provider reported $2.13 EPS for the quarter, topping the consensus estimate of $2.10 by $0.03. Automatic Data Processing had a net margin of 19.14% and a return on equity of 95.22%. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.65 billion. During the same quarter in the previous year, the firm posted $1.96 earnings per share. Automatic Data Processing’s quarterly revenue was up 6.3% on a year-over-year basis. As a group, analysts expect that Automatic Data Processing, Inc. will post 9.14 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 1st. Investors of record on Friday, June 14th will be given a dividend of $1.40 per share. This represents a $5.60 annualized dividend and a yield of 2.30%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Insider Activity

In other news, VP Sreenivasa Kutam sold 694 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the transaction, the vice president now owns 20,687 shares in the company, valued at $5,159,958.41. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Sreenivasa Kutam sold 694 shares of Automatic Data Processing stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $249.43, for a total value of $173,104.42. Following the completion of the sale, the vice president now directly owns 20,687 shares in the company, valued at $5,159,958.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction that occurred on Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total transaction of $485,520.00. Following the completion of the sale, the vice president now owns 17,179 shares in the company, valued at approximately $4,380,645. The disclosure for this sale can be found here. Insiders have sold a total of 15,162 shares of company stock worth $3,741,859 over the last 90 days. 0.26% of the stock is currently owned by insiders.

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.