Matrix Asset Advisors Inc. NY Purchases New Holdings in Automatic Data Processing, Inc. (NASDAQ:ADP)

Matrix Asset Advisors Inc. NY purchased a new stake in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 1,090 shares of the business services provider’s stock, valued at approximately $319,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. 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 valued at $292,000 after purchasing an additional 35 shares during the period. Harbour Investments Inc. boosted its holdings in shares of Automatic Data Processing by 2.1% in the third quarter. Harbour Investments Inc. now owns 1,742 shares of the business services provider’s stock worth $482,000 after acquiring an additional 36 shares during the period. Aspiriant LLC boosted its holdings in shares of Automatic Data Processing by 1.5% in the fourth quarter. Aspiriant LLC now owns 2,372 shares of the business services provider’s stock worth $694,000 after acquiring an additional 36 shares during the period. Precedent Wealth Partners LLC boosted its holdings in shares of Automatic Data Processing by 0.7% in the fourth quarter. Precedent Wealth Partners LLC now owns 5,009 shares of the business services provider’s stock worth $1,466,000 after acquiring an additional 36 shares during the period. Finally, Petredis Investment Advisors LLC boosted its holdings in shares of Automatic Data Processing by 0.4% in the third quarter. Petredis Investment Advisors LLC now owns 10,485 shares of the business services provider’s stock worth $2,902,000 after acquiring an additional 37 shares during the period. 80.03% of the stock is owned by hedge funds and other institutional investors.

Automatic Data Processing Trading Up 1.0 %

NASDAQ ADP opened at $300.15 on Tuesday. The stock’s 50-day simple moving average is $297.13 and its two-hundred day simple moving average is $282.77. Automatic Data Processing, Inc. has a twelve month low of $231.27 and a twelve month high of $309.63. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. The company has a market capitalization of $122.30 billion, a price-to-earnings ratio of 32.03, a PEG ratio of 3.45 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last released its quarterly earnings data 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. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.77 billion. Automatic Data Processing had a return on equity of 82.36% and a net margin of 19.72%. The company’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.08 earnings per share. Research analysts forecast that Automatic Data Processing, Inc. will post 9.94 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The business 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 $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a dividend yield of 2.05%. Automatic Data Processing’s dividend payout ratio is currently 65.74%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. TD Cowen raised their price target on Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a report on Friday, November 1st. Jefferies Financial Group lifted 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. Royal Bank of Canada lifted their price objective 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. StockNews.com lowered Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays lifted their price objective on Automatic Data Processing from $310.00 to $325.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $289.91.

Insider Transactions at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total transaction of $106,366.46. Following the transaction, the vice president now owns 13,706 shares in the company, valued at $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $300.00, for a total value of $11,692,500.00. Following the transaction, the vice president now owns 32,604 shares in the company, valued at approximately $9,781,200. This represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 42,129 shares of company stock worth $12,604,872. 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.