OneAscent Wealth Management LLC Buys New Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

OneAscent Wealth Management LLC bought a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 1,661 shares of the business services provider’s stock, valued at approximately $486,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Automatic Data Processing during the fourth quarter worth about $455,993,000. Raymond James Financial Inc. acquired a new stake in Automatic Data Processing in the fourth quarter valued at approximately $342,942,000. Proficio Capital Partners LLC raised its stake in shares of Automatic Data Processing by 41,710.7% during the fourth quarter. Proficio Capital Partners LLC now owns 1,090,422 shares of the business services provider’s stock valued at $319,199,000 after purchasing an additional 1,087,814 shares during the period. Holocene Advisors LP acquired a new position in shares of Automatic Data Processing during the third quarter worth $160,920,000. Finally, Amundi boosted its stake in shares of Automatic Data Processing by 16.8% in the fourth quarter. Amundi now owns 3,120,039 shares of the business services provider’s stock valued at $910,972,000 after purchasing an additional 449,431 shares during the period. Hedge funds and other institutional investors own 80.03% of the company’s stock.

Automatic Data Processing Trading Down 1.5 %

Shares of NASDAQ ADP opened at $300.83 on Friday. The company has a market cap of $122.58 billion, a price-to-earnings ratio of 31.37, a price-to-earnings-growth ratio of 3.62 and a beta of 0.76. The stock’s 50 day simple moving average is $303.87 and its 200 day simple moving average is $296.20. 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, Inc. has a 12-month low of $231.27 and a 12-month high of $322.84.

Automatic Data Processing (NASDAQ:ADP) last announced its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, beating the consensus estimate 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 research analysts expect that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

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

Analyst Ratings Changes

ADP has been the topic of a number of analyst reports. 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, February 3rd. UBS Group upped their target price on Automatic Data Processing from $318.00 to $324.00 and gave the company a “neutral” rating in a research report on Tuesday, March 4th. StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. 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. Finally, Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $302.30.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the completion of the sale, the vice president now directly owns 13,706 shares of the company’s stock, valued at approximately $4,027,233.98. This represents a 2.57 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,951 shares of company stock worth $1,762,074. Company insiders own 0.21% of the company’s stock.

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.