Sagace Wealth Management LLC Acquires New Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Sagace Wealth Management LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 693 shares of the business services provider’s stock, valued at approximately $203,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new stake in Automatic Data Processing during the second quarter worth about $27,000. Dunhill Financial LLC raised its stake in Automatic Data Processing by 346.5% during the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock worth $29,000 after purchasing an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its holdings in Automatic Data Processing by 78.5% in the 3rd quarter. Hexagon Capital Partners LLC now owns 116 shares of the business services provider’s stock valued at $32,000 after purchasing an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in shares of Automatic Data Processing in the 3rd quarter valued at approximately $35,000. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Trading Up 0.6 %

ADP opened at $293.37 on Thursday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.56. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $309.63. The business’s 50 day moving average is $298.48 and its two-hundred day moving average is $279.35. The firm has a market cap of $119.54 billion, a price-to-earnings ratio of 31.31, a price-to-earnings-growth ratio of 3.50 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 firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.77 billion. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. Automatic Data Processing’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.08 EPS. On average, research analysts predict that Automatic Data Processing, Inc. will post 9.93 EPS for the current year.

Automatic Data Processing Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be given a $1.54 dividend. This represents a $6.16 annualized dividend and a yield of 2.10%. Automatic Data Processing’s dividend payout ratio (DPR) is presently 65.74%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on ADP shares. Jefferies Financial Group lifted their price target on shares of Automatic Data Processing from $260.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, October 22nd. UBS Group upped their price objective on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a report on Tuesday, October 22nd. Royal Bank of Canada lifted their target price on shares of Automatic Data Processing from $267.00 to $315.00 and gave the company a “sector perform” rating in a report on Thursday, October 31st. 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. Finally, StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Saturday, January 11th. 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 data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $289.91.

Insiders Place Their Bets

In other news, 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 transaction of $11,692,500.00. Following the transaction, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. The trade was a 54.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $293.83, for a total value 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 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 owned by company insiders.

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.