HB Wealth Management LLC Has $12.76 Million Stake in Automatic Data Processing, Inc. (NASDAQ:ADP)

HB Wealth Management LLC increased its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 6.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 43,571 shares of the business services provider’s stock after purchasing an additional 2,530 shares during the period. HB Wealth Management LLC’s holdings in Automatic Data Processing were worth $12,755,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ADP. Moloney Securities Asset Management LLC acquired a new position in Automatic Data Processing during the third quarter worth $209,000. Nomura Asset Management Co. Ltd. boosted its stake in shares of Automatic Data Processing by 5.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock worth $77,750,000 after buying an additional 15,340 shares during the last quarter. RIA Advisory Group LLC bought a new position in shares of Automatic Data Processing in the 3rd quarter valued at about $470,000. Dash Acquisitions Inc. raised its holdings in Automatic Data Processing by 5.6% during the third quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock worth $15,069,000 after acquiring an additional 2,781 shares in the last quarter. Finally, DRW Securities LLC acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $951,000. Institutional investors own 80.03% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on ADP. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Barclays boosted their target price on Automatic Data Processing from $310.00 to $325.00 and gave the stock an “overweight” rating in a research note on Monday, November 4th. 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 research report on Friday, November 1st. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, Automatic Data Processing currently has a consensus rating of “Hold” and an average price target of $289.91.

Automatic Data Processing Stock Down 0.0 %

Shares of ADP traded down $0.05 during trading hours on Friday, reaching $296.18. 2,405,360 shares of the stock traded hands, compared to its average volume of 1,454,451. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.56. The stock has a fifty day simple moving average of $298.07 and a 200 day simple moving average of $279.57. The company has a market cap of $120.68 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 3.34 and a beta of 0.79.

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

Automatic Data Processing Dividend Announcement

The firm also recently disclosed 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. This represents a $6.16 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Friday, March 14th. Automatic Data Processing’s payout ratio is 65.74%.

Insider Buying and Selling

In other Automatic Data Processing news, CEO Maria Black sold 721 shares of Automatic Data Processing 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 transaction, the chief executive officer now directly owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Brian L. Michaud sold 362 shares of the company’s stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 42,129 shares of company stock worth $12,604,872. Insiders own 0.21% of the company’s stock.

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.