Cordatus Wealth Management LLC Purchases Shares of 9,856 Automatic Data Processing, Inc. (NASDAQ:ADP)

Cordatus Wealth Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, HoldingsChannel reports. The firm acquired 9,856 shares of the business services provider’s stock, valued at approximately $2,885,000.

A number of other hedge funds have also recently made changes to their positions in the business. Tower Wealth Partners Inc. raised its stake in Automatic Data Processing by 3.4% in the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after buying an additional 35 shares in the last quarter. Harbour Investments Inc. grew its holdings in shares of Automatic Data Processing by 2.1% during the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the period. Aspiriant LLC raised its position in shares of Automatic Data Processing by 1.5% in the 4th quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares in the last quarter. Precedent Wealth Partners LLC raised its position in shares of Automatic Data Processing by 0.7% in the 4th quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares in the last quarter. Finally, Riversedge Advisors LLC lifted its stake in shares of Automatic Data Processing by 4.2% in the 4th quarter. Riversedge Advisors LLC now owns 916 shares of the business services provider’s stock valued at $268,000 after purchasing an additional 37 shares during the period. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of the company’s stock in a transaction that occurred on Friday, January 3rd. The shares were sold at an average price of $291.59, for a total value of $210,236.39. Following the completion of the transaction, the chief executive officer now directly owns 68,856 shares in the company, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the sale, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,478 shares of company stock valued at $1,617,241 over the last quarter. 0.21% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

ADP opened at $311.97 on Friday. The company’s 50 day moving average is $298.44 and its 200 day moving average is $289.74. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The company has a market cap of $127.12 billion, a price-to-earnings ratio of 32.53, a PEG ratio of 3.61 and a beta of 0.79. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $313.72.

Automatic Data Processing (NASDAQ:ADP) last issued its quarterly earnings data 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 net margin of 19.76% and a return on equity of 80.86%. On average, equities research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be given 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 payout ratio is 64.23%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on ADP shares. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing in a report on Thursday, January 30th. TD Cowen boosted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Mizuho lifted their target price on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $293.55.

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.