Automatic Data Processing, Inc. (NASDAQ:ADP) Stock Position Raised by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. boosted its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 7.4% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 32,175 shares of the business services provider’s stock after buying an additional 2,203 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Automatic Data Processing were worth $9,419,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Itau Unibanco Holding S.A. purchased a new stake in Automatic Data Processing in the 3rd quarter worth approximately $26,000. Dunhill Financial LLC lifted its position in Automatic Data Processing by 346.5% in the 3rd quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after buying an additional 149 shares in the last quarter. Sugar Maple Asset Management LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $37,000. Wingate Wealth Advisors Inc. purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $37,000. Finally, HHM Wealth Advisors LLC purchased a new stake in Automatic Data Processing in the 4th quarter worth approximately $41,000. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Insiders Place Their Bets

In related news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total transaction of $106,366.46. Following the completion of the transaction, the vice president now directly owns 13,706 shares of the company’s stock, valued at $4,027,233.98. This trade represents a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Maria Black sold 721 shares of Automatic Data Processing 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 transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at $20,077,721.04. This represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,951 shares of company stock worth $1,762,074 in the last ninety days. Insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ADP. UBS Group increased their target price on shares of Automatic Data Processing from $318.00 to $324.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 4th. Royal Bank of Canada restated a “sector perform” rating and set a $315.00 price target on shares of Automatic Data Processing in a research note on Thursday, January 30th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. Barclays increased their price target on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Jefferies Financial Group increased their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $296.18.

Automatic Data Processing Stock Performance

NASDAQ:ADP opened at $290.55 on Friday. Automatic Data Processing, Inc. has a 1 year low of $231.27 and a 1 year high of $322.84. The firm’s fifty day simple moving average is $302.32 and its 200 day simple moving average is $294.30. 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 firm has a market capitalization of $118.39 billion, a PE ratio of 30.30, a PEG ratio of 3.62 and a beta of 0.76.

Automatic Data Processing (NASDAQ:ADP) last posted its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (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%. On average, sell-side analysts anticipate that Automatic Data Processing, Inc. will post 9.93 EPS 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. Shareholders of record on Friday, March 14th will be given a $1.54 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.12%. Automatic Data Processing’s dividend payout ratio is 64.23%.

About Automatic Data Processing

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.