Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Mission Wealth Management LP

Mission Wealth Management LP increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 2.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,794 shares of the business services provider’s stock after acquiring an additional 217 shares during the period. Mission Wealth Management LP’s holdings in Automatic Data Processing were worth $2,049,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. OFI Invest Asset Management purchased a new stake in shares of Automatic Data Processing during the 3rd quarter worth approximately $25,000. Fortitude Family Office LLC purchased a new stake in Automatic Data Processing in the fourth quarter valued at $35,000. Raleigh Capital Management Inc. grew its holdings in shares of 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 worth $42,000 after purchasing an additional 89 shares during the last quarter. Evolution Advisers Inc. acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $41,000. Finally, Bfsg LLC acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $42,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Automatic Data Processing

In other news, VP Don Mcguire sold 11,333 shares of Automatic Data Processing stock in a transaction dated 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 transaction, the vice president now directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, VP Joseph Desilva sold 1,904 shares of the firm’s stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $255.00, for a total value of $485,520.00. Following the transaction, the vice president now directly owns 17,179 shares of the company’s stock, valued at $4,380,645. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Don Mcguire sold 11,333 shares of the company’s stock in a transaction dated 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 directly owns 19,906 shares of the company’s stock, valued at approximately $4,876,970. 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 in the last quarter. 0.26% of the stock is owned by insiders.

Automatic Data Processing Stock Performance

Shares of NASDAQ ADP opened at $241.89 on Wednesday. The company has a 50-day simple moving average of $246.29 and a 200-day simple moving average of $239.06. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.37 billion, a PE ratio of 28.16, a price-to-earnings-growth ratio of 2.29 and a beta of 0.78. Automatic Data Processing, Inc. has a 12 month low of $205.53 and a 12 month 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 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.10 by $0.03. The business had revenue of $4.67 billion for the quarter, compared to analysts’ expectations of $4.65 billion. Automatic Data Processing had a return on equity of 95.22% and a net margin of 19.14%. The business’s revenue was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.96 earnings per share. On average, equities analysts anticipate that Automatic Data Processing, Inc. will post 9.14 earnings per share 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. 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 2.32%. The ex-dividend date is Friday, June 14th. Automatic Data Processing’s dividend payout ratio (DPR) is 65.19%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ADP shares. StockNews.com cut 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 target price for the company from $217.00 to $243.00 in a report on Wednesday, January 17th. Evercore ISI raised their price objective 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. Royal Bank of Canada reiterated a “sector perform” rating and set a $267.00 target price on shares of Automatic Data Processing in a research report on Thursday, February 1st. Finally, Wolfe Research raised Automatic Data Processing from an “underperform” rating to a “peer perform” rating in a report on Thursday, January 4th. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $258.36.

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.