MONECO Advisors LLC Purchases 65 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

MONECO Advisors LLC lifted its stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 0.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 11,469 shares of the business services provider’s stock after acquiring an additional 65 shares during the quarter. MONECO Advisors LLC’s holdings in Automatic Data Processing were worth $3,357,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Forvis Mazars Wealth Advisors LLC increased its position in shares of Automatic Data Processing by 5.8% during the fourth quarter. Forvis Mazars Wealth Advisors LLC now owns 3,740 shares of the business services provider’s stock worth $1,095,000 after acquiring an additional 204 shares during the period. Howard Capital Management Inc. increased its position in shares of Automatic Data Processing by 2.9% during the fourth quarter. Howard Capital Management Inc. now owns 12,100 shares of the business services provider’s stock worth $3,542,000 after acquiring an additional 343 shares during the period. First Horizon Advisors Inc. increased its position in shares of Automatic Data Processing by 2.0% during the fourth quarter. First Horizon Advisors Inc. now owns 8,950 shares of the business services provider’s stock worth $2,620,000 after acquiring an additional 177 shares during the period. Sigma Planning Corp increased its position in shares of Automatic Data Processing by 5.5% during the fourth quarter. Sigma Planning Corp now owns 6,041 shares of the business services provider’s stock worth $1,768,000 after acquiring an additional 313 shares during the period. Finally, Redmond Asset Management LLC purchased a new position in shares of Automatic Data Processing during the fourth quarter worth approximately $3,177,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Barclays lifted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group lifted their price objective on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a report on Thursday, January 30th. TD Cowen lifted their price objective on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a report on Friday, November 1st. Finally, Mizuho lifted their price objective 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. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $293.55.

Insider Transactions at Automatic Data Processing

In other news, VP Jonathan S. Lehberger sold 2,324 shares of Automatic Data Processing stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total transaction of $704,869.20. Following the completion of the sale, the vice president now directly owns 3,063 shares in the company, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction on Thursday, January 2nd. The stock was 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 of the company’s stock, 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. Over the last ninety days, insiders sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $310.76 on Friday. The firm’s fifty day simple moving average is $298.72 and its two-hundred day simple moving average is $290.32. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. Automatic Data Processing, Inc. has a 12-month low of $231.27 and a 12-month high of $313.72. The firm has a market capitalization of $126.62 billion, a P/E ratio of 32.40, a P/E/G ratio of 3.63 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. Analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 1.98%. Automatic Data Processing’s payout ratio is currently 64.23%.

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.