Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Mutual Advisors LLC

Posted by Defense World Staff on Mar 23rd, 2023

Mutual Advisors LLC lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,497 shares of the business services provider’s stock after purchasing an additional 152 shares during the period. Mutual Advisors LLC’s holdings in Automatic Data Processing were worth $1,552,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wellington Shields & Co. LLC acquired a new position in shares of Automatic Data Processing during the second quarter worth $29,000. Cowa LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth $34,000. Timber Creek Capital Management LLC acquired a new position in shares of Automatic Data Processing during the third quarter worth $45,000. Bell Investment Advisors Inc increased its stake in shares of Automatic Data Processing by 33.8% in the third quarter. Bell Investment Advisors Inc now owns 210 shares of the business services provider’s stock worth $47,000 after buying an additional 53 shares during the last quarter. Finally, Coston McIsaac & Partners bought a new stake in shares of Automatic Data Processing in the second quarter worth $48,000. 79.24% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Carlos A. Rodriguez sold 52,254 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $234.15, for a total value of $12,235,274.10. Following the completion of the sale, the insider now owns 44,481 shares of the company’s stock, valued at $10,415,226.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Automatic Data Processing news, insider Carlos A. Rodriguez sold 37,594 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $241.29, for a total value of $9,071,056.26. Following the completion of the sale, the insider now directly owns 44,481 shares of the company’s stock, valued at approximately $10,732,820.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Carlos A. Rodriguez sold 52,254 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $234.15, for a total transaction of $12,235,274.10. Following the completion of the sale, the insider now directly owns 44,481 shares of the company’s stock, valued at $10,415,226.15. The disclosure for this sale can be found here. Insiders sold 106,350 shares of company stock valued at $25,301,670 over the last 90 days. 0.33% of the stock is currently owned by company insiders.

Automatic Data Processing Stock Performance

Shares of ADP opened at $213.26 on Thursday. Automatic Data Processing, Inc. has a 1 year low of $196.61 and a 1 year high of $274.92. The company has a market cap of $88.36 billion, a price-to-earnings ratio of 28.32, a price-to-earnings-growth ratio of 2.19 and a beta of 0.81. The company has a debt-to-equity ratio of 1.00, a quick ratio of 0.99 and a current ratio of 0.99. The firm has a fifty day moving average of $225.34 and a 200-day moving average of $236.63.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings results on Wednesday, January 25th. The business services provider reported $1.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.95 by $0.01. The company had revenue of $4.39 billion during the quarter, compared to the consensus estimate of $4.39 billion. Automatic Data Processing had a net margin of 18.24% and a return on equity of 96.94%. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.65 earnings per share. As a group, equities analysts anticipate that Automatic Data Processing, Inc. will post 8.12 earnings per share for the current year.

Automatic Data Processing Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Saturday, April 1st. Investors of record on Friday, March 10th will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.34%. The ex-dividend date is Thursday, March 9th. Automatic Data Processing’s payout ratio is currently 66.40%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ADP shares. Wolfe Research lifted their price target on shares of Automatic Data Processing from $220.00 to $225.00 in a research note on Thursday, January 5th. Barclays dropped their price target on shares of Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating for the company in a research note on Sunday, January 29th. Mizuho dropped their price target on shares of Automatic Data Processing from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Thursday, January 26th. JPMorgan Chase & Co. lowered their target price on shares of Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating for the company in a research note on Thursday, January 26th. Finally, StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a research note on Friday, March 10th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $246.10.

Automatic Data Processing Profile

(Get Rating)

Automatic Data Processing, Inc engages in the provision of business outsourcing solutions specializing in cloud-based human capital management. It operates through the following business segments: Employer Services, Professional Employer Organization Services, and Other. The Employer Services segment provides clients ranging from single-employee small businesses to large enterprises with tens of thousands of employees around the world, offering a range of human resources outsourcing and technology-based human capital management solutions, including strategic, cloud-based platforms.