Riversedge Advisors LLC Boosts Stock Position in Automatic Data Processing, Inc. (NASDAQ:ADP)

Riversedge Advisors LLC boosted its position in Automatic Data Processing, Inc. (NASDAQ:ADP) by 4.2% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 916 shares of the business services provider’s stock after purchasing an additional 37 shares during the quarter. Riversedge Advisors LLC’s holdings in Automatic Data Processing were worth $268,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. purchased a new position in shares of Automatic Data Processing during the 3rd quarter worth $26,000. Kiely Wealth Advisory Group Inc. acquired a new position in Automatic Data Processing in the second quarter valued at $27,000. Dunhill Financial LLC lifted its position 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 buying an additional 149 shares during the period. Hexagon Capital Partners LLC boosted its stake 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 worth $32,000 after buying an additional 51 shares during the last quarter. Finally, Capital Performance Advisors LLP purchased a new stake in Automatic Data Processing in the 3rd quarter valued at about $35,000. 80.03% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ADP shares. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Sunday. Royal Bank of Canada lifted their price target 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. Citigroup upped their price objective on Automatic Data Processing from $260.00 to $295.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. UBS Group lifted their target price on Automatic Data Processing from $270.00 to $295.00 and gave the company a “neutral” rating in a report on Tuesday, October 22nd. Finally, Jefferies Financial Group upped their price target on Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Trading Down 0.0 %

NASDAQ:ADP opened at $296.18 on Friday. Automatic Data Processing, Inc. has a 12 month low of $231.27 and a 12 month high of $309.63. The business’s 50-day moving average is $297.90 and its two-hundred day moving average is $279.99. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.01 and a quick ratio of 1.01. The firm has a market capitalization of $120.68 billion, a PE ratio of 31.61, a price-to-earnings-growth ratio of 3.34 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last announced its earnings results on Wednesday, October 30th. The business services provider reported $2.33 EPS for the quarter, beating the consensus estimate of $2.21 by $0.12. The business 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 revenue was up 7.1% on a year-over-year basis. During the same period last year, the business posted $2.08 EPS. Research analysts predict that Automatic Data Processing, Inc. will post 9.93 earnings per share for the current fiscal year.

Automatic Data Processing Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a dividend of $1.54 per share. This represents a $6.16 dividend on an annualized basis and a 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 news, VP Brian L. Michaud sold 362 shares of the firm’s 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 sale, the vice president now owns 13,706 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Sreenivasa Kutam sold 38,975 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president now directly owns 32,604 shares in the company, valued at $9,781,200. This represents a 54.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 42,129 shares of company stock valued at $12,604,872 in the last quarter. 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.