Newton One Investments LLC Makes New $43,000 Investment in Automatic Data Processing, Inc. (NASDAQ:ADP)

Newton One Investments LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 146 shares of the business services provider’s stock, valued at approximately $43,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Czech National Bank grew its holdings in Automatic Data Processing by 6.5% during the 3rd quarter. Czech National Bank now owns 83,072 shares of the business services provider’s stock worth $22,989,000 after acquiring an additional 5,077 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Automatic Data Processing by 23.6% during the third quarter. GAMMA Investing LLC now owns 7,418 shares of the business services provider’s stock worth $2,053,000 after purchasing an additional 1,415 shares during the last quarter. Diversified Trust Co grew its stake in Automatic Data Processing by 15.5% in the third quarter. Diversified Trust Co now owns 12,551 shares of the business services provider’s stock worth $3,473,000 after purchasing an additional 1,683 shares in the last quarter. Miracle Mile Advisors LLC increased its holdings in Automatic Data Processing by 16.3% in the third quarter. Miracle Mile Advisors LLC now owns 2,251 shares of the business services provider’s stock valued at $623,000 after buying an additional 316 shares during the last quarter. Finally, McLean Asset Management Corp acquired a new stake in Automatic Data Processing during the third quarter valued at approximately $219,000. 80.03% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Automatic Data Processing

In other news, CEO Maria Black sold 721 shares of the firm’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the transaction, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP David Foskett sold 1,067 shares of Automatic Data Processing stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total transaction of $305,322.05. Following the completion of the transaction, the vice president now directly owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 in the last 90 days. Corporate insiders own 0.21% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Barclays lifted their target price on Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research report on Monday. TD Cowen boosted their target price on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research note on Friday, November 1st. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Monday, January 27th. UBS Group lifted their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $315.00 price objective on shares of Automatic Data Processing in a research note on Thursday, January 30th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, Automatic Data Processing presently has a consensus rating of “Hold” and an average target price of $293.55.

Automatic Data Processing Stock Performance

ADP opened at $307.32 on Tuesday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $297.16 and its 200-day moving average is $284.84. The stock has a market cap of $125.22 billion, a PE ratio of 32.05, a price-to-earnings-growth ratio of 3.52 and a beta of 0.79. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $311.67.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a return on equity of 80.86% and a net margin of 19.76%. On average, analysts predict that Automatic Data Processing, Inc. will post 9.94 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.00%. The ex-dividend date is Friday, March 14th. 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.