Flagship Wealth Advisors LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP – Free Report) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 1,733 shares of the business services provider’s stock, valued at approximately $507,000.
Several other hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of Automatic Data Processing in the fourth quarter worth approximately $342,942,000. Proficio Capital Partners LLC increased its position in shares of Automatic Data Processing by 41,710.7% in the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock worth $319,199,000 after acquiring an additional 1,087,814 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Automatic Data Processing in the third quarter worth approximately $160,920,000. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Automatic Data Processing by 332.3% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 623,341 shares of the business services provider’s stock worth $172,497,000 after acquiring an additional 479,145 shares in the last quarter. Finally, Amundi boosted its holdings in shares of Automatic Data Processing by 16.8% during the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock worth $910,972,000 after purchasing an additional 449,431 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.
Insider Buying and Selling
In other Automatic Data Processing news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $286.15, for a total value of $305,322.05. Following the sale, the vice president now owns 6,140 shares of the company’s stock, valued at $1,756,961. The trade was a 14.81 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Christopher D’ambrosio sold 473 shares of the business’s stock in a transaction on Monday, March 10th. The shares were sold at an average price of $306.20, for a total transaction of $144,832.60. Following the completion of the sale, the vice president now directly owns 7,244 shares in the company, valued at $2,218,112.80. This trade represents a 6.13 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,951 shares of company stock valued at $1,762,074. 0.21% of the stock is owned by company insiders.
Automatic Data Processing Trading Up 0.4 %
Automatic Data Processing (NASDAQ:ADP – Get Free Report) last released its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 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%. Equities analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.
Automatic Data Processing Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.
Analyst Upgrades and Downgrades
ADP has been the subject of several research reports. UBS Group raised their price target on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a report on Tuesday, March 4th. Jefferies Financial Group raised their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a report on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a report on Thursday, January 30th. Finally, Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, Automatic Data Processing presently has a consensus rating of “Hold” and a consensus target price of $296.18.
Check Out Our Latest Stock Report on ADP
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.
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