Flagship Wealth Advisors LLC Invests $507,000 in Automatic Data Processing, Inc. (NASDAQ:ADP)

Flagship Wealth Advisors LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) 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 %

NASDAQ:ADP opened at $291.76 on Monday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $322.84. The firm has a market cap of $118.88 billion, a price-to-earnings ratio of 30.42, a P/E/G ratio of 3.62 and a beta of 0.76. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $302.32 and its 200-day moving average is $294.74.

Automatic Data Processing (NASDAQ:ADP) 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.

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.