American Money Management LLC Purchases Shares of 1,736 Automatic Data Processing, Inc. (NASDAQ:ADP)

American Money Management LLC acquired a new position in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 1,736 shares of the business services provider’s stock, valued at approximately $508,000.

A number of other hedge funds have also recently made changes to their positions in the stock. BlueChip Wealth Advisors LLC boosted its holdings in Automatic Data Processing by 5.6% during the 4th quarter. BlueChip Wealth Advisors LLC now owns 2,217 shares of the business services provider’s stock valued at $649,000 after acquiring an additional 117 shares during the period. Allianz SE acquired a new stake in shares of Automatic Data Processing during the fourth quarter worth about $11,044,000. OneAscent Wealth Management LLC purchased a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $486,000. Biondo Investment Advisors LLC boosted its stake in shares of Automatic Data Processing by 1.4% in the fourth quarter. Biondo Investment Advisors LLC now owns 39,547 shares of the business services provider’s stock valued at $11,577,000 after purchasing an additional 528 shares during the period. Finally, Allstate Corp acquired a new position in shares of Automatic Data Processing in the fourth quarter valued at approximately $3,540,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on ADP. Barclays raised their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Jefferies Financial Group boosted their target price 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. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Wednesday, February 5th. UBS Group raised their price objective on shares of Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a report on Tuesday, March 4th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $315.00 price objective on shares of Automatic Data Processing in a report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and a consensus target price of $302.30.

Automatic Data Processing Price Performance

Shares of NASDAQ ADP opened at $300.83 on Friday. The stock has a market cap of $122.58 billion, a P/E ratio of 31.37, a P/E/G ratio of 3.62 and a beta of 0.76. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $322.84. The stock has a 50 day moving average of $303.87 and a two-hundred day moving average of $296.32. 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 (NASDAQ:ADP) last issued its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, topping 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, research analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.05%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s dividend payout ratio is currently 64.23%.

Insider Buying and Selling at Automatic Data Processing

In other news, VP David Foskett sold 1,067 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. The trade was a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the firm’s stock in a transaction dated 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 owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. The trade was a 43.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,951 shares of company stock valued at $1,762,074 in the last ninety days. Insiders own 0.21% of the company’s stock.

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.