MCF Advisors LLC Has $742,000 Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

MCF Advisors LLC boosted its holdings in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 5.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,522 shares of the business services provider’s stock after buying an additional 119 shares during the quarter. MCF Advisors LLC’s holdings in Automatic Data Processing were worth $742,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of ADP. AE Wealth Management LLC raised its stake in shares of Automatic Data Processing by 28.5% in the 2nd quarter. AE Wealth Management LLC now owns 9,458 shares of the business services provider’s stock valued at $2,258,000 after acquiring an additional 2,096 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Automatic Data Processing by 3.8% during the second quarter. Thrivent Financial for Lutherans now owns 120,769 shares of the business services provider’s stock valued at $28,826,000 after purchasing an additional 4,427 shares during the last quarter. 1832 Asset Management L.P. raised its position in shares of Automatic Data Processing by 1.1% in the second quarter. 1832 Asset Management L.P. now owns 40,692 shares of the business services provider’s stock valued at $9,713,000 after purchasing an additional 436 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Automatic Data Processing by 12.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,966 shares of the business services provider’s stock valued at $516,000 after purchasing an additional 212 shares during the period. Finally, Public Sector Pension Investment Board lifted its stake in shares of Automatic Data Processing by 71.0% in the second quarter. Public Sector Pension Investment Board now owns 15,514 shares of the business services provider’s stock worth $3,703,000 after buying an additional 6,439 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Automatic Data Processing Stock Up 0.7 %

Shares of ADP opened at $298.15 on Wednesday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The stock has a market cap of $121.48 billion, a price-to-earnings ratio of 31.82, a P/E/G ratio of 3.45 and a beta of 0.79. The company has a 50-day moving average price of $297.69 and a two-hundred day moving average price of $281.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The business had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.77 billion. During the same quarter in the previous year, the firm earned $2.08 EPS. Automatic Data Processing’s quarterly revenue was up 7.1% on a year-over-year basis. Equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Announces Dividend

The company 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 dividend yield of 2.07%. The ex-dividend date is Friday, March 14th. Automatic Data Processing’s dividend payout ratio (DPR) is currently 65.74%.

Wall Street Analyst Weigh In

ADP has been the topic of several recent analyst reports. TD Cowen lifted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group raised their target price on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Royal Bank of Canada upped their price target on Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a report on Thursday, October 31st. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Citigroup upped their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average target price of $289.91.

Insider Activity at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the 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 in the company, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Sreenivasa Kutam sold 38,975 shares of Automatic Data Processing stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the completion of the transaction, the vice president now directly owns 32,604 shares of the company’s stock, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock valued at $12,604,872 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.