Kathmere Capital Management LLC Purchases 798 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Kathmere Capital Management LLC raised its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 18.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 5,121 shares of the business services provider’s stock after purchasing an additional 798 shares during the quarter. Kathmere Capital Management LLC’s holdings in Automatic Data Processing were worth $1,499,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Tower Wealth Partners Inc. grew its holdings in Automatic Data Processing by 3.4% during the third quarter. Tower Wealth Partners Inc. now owns 1,054 shares of the business services provider’s stock worth $292,000 after acquiring an additional 35 shares during the period. Harbour Investments Inc. boosted its position in Automatic Data Processing by 2.1% in the 3rd quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after purchasing an additional 36 shares in the last quarter. Petredis Investment Advisors LLC grew its stake in shares of Automatic Data Processing by 0.4% during the 3rd quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after purchasing an additional 37 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Automatic Data Processing by 0.7% during the 2nd quarter. Moors & Cabot Inc. now owns 5,698 shares of the business services provider’s stock valued at $1,360,000 after purchasing an additional 39 shares in the last quarter. Finally, Austin Private Wealth LLC lifted its stake in shares of Automatic Data Processing by 4.4% in the 3rd quarter. Austin Private Wealth LLC now owns 923 shares of the business services provider’s stock valued at $255,000 after purchasing an additional 39 shares during the period. Institutional investors own 80.03% of the company’s stock.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction 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 $4,027,233.98. The trade was a 2.57 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP David Foskett sold 1,004 shares of the business’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $289.29, for a total value of $290,447.16. Following the completion of the sale, the vice president now directly owns 5,958 shares of the company’s stock, valued at $1,723,589.82. The trade was a 14.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,129 shares of company stock valued at $12,604,872. 0.21% of the stock is currently owned by corporate insiders.

Automatic Data Processing Stock Performance

Shares of Automatic Data Processing stock opened at $291.69 on Wednesday. The business has a 50-day simple moving average of $298.48 and a 200-day simple moving average of $279.35. The company has a market cap of $118.85 billion, a PE ratio of 31.13, a P/E/G ratio of 3.50 and a beta of 0.79. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $309.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. During the same quarter in the previous year, the business posted $2.08 EPS. The firm’s revenue was up 7.1% on a year-over-year basis. On average, equities research analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 1st. Shareholders of record on Friday, December 13th were issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a yield of 2.11%. This is an increase from Automatic Data Processing’s previous quarterly dividend of $1.40. The ex-dividend date of this dividend was Friday, December 13th. Automatic Data Processing’s payout ratio is 65.74%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on ADP. Royal Bank of Canada lifted their price target on Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a research note on Thursday, October 31st. UBS Group upped their target price on Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Citigroup lifted their price target 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. Mizuho raised their price objective on Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a report on Monday, November 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a report on Saturday. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $289.91.

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.