Martel Wealth Advisors Inc Purchases Shares of 1,000 Automatic Data Processing, Inc. (NASDAQ:ADP)

Martel Wealth Advisors Inc acquired a new position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,000 shares of the business services provider’s stock, valued at approximately $293,000.

Several other institutional investors also recently modified their holdings of ADP. Pure Financial Advisors LLC bought a new position in Automatic Data Processing in the fourth quarter valued at $200,000. Tudor Financial Inc. boosted its holdings in shares of Automatic Data Processing by 23.4% in the 4th quarter. Tudor Financial Inc. now owns 1,381 shares of the business services provider’s stock worth $404,000 after purchasing an additional 262 shares in the last quarter. Koshinski Asset Management Inc. increased its position in shares of Automatic Data Processing by 2.5% during the 4th quarter. Koshinski Asset Management Inc. now owns 6,927 shares of the business services provider’s stock valued at $2,028,000 after purchasing an additional 171 shares during the last quarter. Zhang Financial LLC purchased a new position in shares of Automatic Data Processing during the 4th quarter valued at about $205,000. Finally, Corundum Group Inc. lifted its position in Automatic Data Processing by 125.6% in the 4th quarter. Corundum Group Inc. now owns 4,259 shares of the business services provider’s stock worth $1,247,000 after buying an additional 2,371 shares during the last quarter. 80.03% of the stock is currently owned by institutional investors.

Insider Transactions at Automatic Data Processing

In other news, VP Brian L. Michaud sold 362 shares of Automatic Data Processing stock in a transaction that occurred 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 transaction, the vice president now directly owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP David Foskett sold 1,067 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $286.15, for a total value of $305,322.05. Following the completion of the sale, the vice president now directly owns 6,140 shares in the company, valued at approximately $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 42,129 shares of company stock valued at $12,604,872. Corporate insiders own 0.21% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on ADP shares. TD Cowen increased their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the company a “hold” rating in a research report on Friday, November 1st. Citigroup lifted their target price on shares of Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Mizuho upped their price target 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. Jefferies Financial Group raised their price objective on Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research note on Tuesday, October 22nd. Finally, Royal Bank of Canada boosted their target price 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. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and a consensus price target of $289.91.

Automatic Data Processing Trading Down 0.0 %

NASDAQ ADP opened at $296.18 on Tuesday. The stock has a market cap of $120.68 billion, a P/E ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79. Automatic Data Processing, Inc. has a fifty-two week low of $231.27 and a fifty-two week high of $309.63. The stock has a 50 day simple moving average of $297.90 and a two-hundred day simple moving average of $280.60. 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 announced its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, topping analysts’ consensus estimates of $2.21 by $0.12. The company had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The firm’s revenue was up 7.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.08 earnings per share. On average, analysts forecast that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be issued a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 dividend on an annualized basis and a dividend yield of 2.08%. Automatic Data Processing’s dividend payout ratio (DPR) is 65.74%.

Automatic Data Processing 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.