International Assets Investment Management LLC Purchases 951 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Posted by on Apr 11th, 2023

International Assets Investment Management LLC raised its position in Automatic Data Processing, Inc. (NASDAQ:ADP – Get Rating) by 28.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,353 shares of the business services provider’s stock after buying an additional 951 shares during the quarter. International Assets Investment Management LLC’s holdings in Automatic Data Processing were worth $1,040,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbor Investment Advisory LLC boosted its position in shares of Automatic Data Processing by 1.0% during the 3rd quarter. Harbor Investment Advisory LLC now owns 4,164 shares of the business services provider’s stock valued at $942,000 after acquiring an additional 41 shares during the last quarter. TCI Wealth Advisors Inc. lifted its holdings in shares of Automatic Data Processing by 8.1% during the 3rd quarter. TCI Wealth Advisors Inc. now owns 550 shares of the business services provider’s stock worth $124,000 after acquiring an additional 41 shares during the last quarter. Householder Group Estate & Retirement Specialist LLC grew its position in Automatic Data Processing by 1.3% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 3,475 shares of the business services provider’s stock worth $830,000 after acquiring an additional 43 shares in the last quarter. Emerald Advisors LLC increased its position in shares of Automatic Data Processing by 1.9% during the 4th quarter. Emerald Advisors LLC now owns 2,306 shares of the business services provider’s stock valued at $551,000 after purchasing an additional 43 shares during the last quarter. Finally, Well Done LLC lifted its holdings in shares of Automatic Data Processing by 3.1% in the 3rd quarter. Well Done LLC now owns 1,545 shares of the business services provider’s stock worth $349,000 after acquiring an additional 46 shares during the last quarter. 79.24% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Automatic Data Processing news, VP Donald Weinstein sold 5,075 shares of Automatic Data Processing stock in a transaction that occurred on Wednesday, January 11th. The stock was sold at an average price of $245.00, for a total value of $1,243,375.00. Following the sale, the vice president now owns 32,950 shares of the company’s stock, valued at approximately $8,072,750. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.33% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on ADP shares. Bank of America lowered Automatic Data Processing from a “neutral” rating to an “underperform” rating and dropped their price objective for the company from $249.00 to $211.00 in a research note on Monday, April 3rd. StockNews.com upgraded shares of Automatic Data Processing from a “hold” rating to a “buy” rating in a report on Friday, March 10th. Barclays cut their target price on shares of Automatic Data Processing from $280.00 to $278.00 and set an “overweight” rating on the stock in a research note on Sunday, January 29th. Mizuho decreased 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. Finally, JPMorgan Chase & Co. cut their price objective on Automatic Data Processing from $253.00 to $245.00 and set an “underweight” rating on the stock in a research report on Thursday, January 26th. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $243.36.

Automatic Data Processing Price Performance

NASDAQ ADP opened at $214.22 on Tuesday. 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 business’s fifty day moving average is $220.45 and its 200 day moving average is $234.75. The company has a market capitalization of $88.76 billion, a PE ratio of 28.45, a price-to-earnings-growth ratio of 2.22 and a beta of 0.81. Automatic Data Processing, Inc. has a fifty-two week low of $196.61 and a fifty-two week high of $274.92.

Automatic Data Processing (NASDAQ:ADP – Get Rating) last announced its quarterly earnings data on Wednesday, January 25th. The business services provider reported $1.96 EPS for the quarter, beating the consensus estimate of $1.95 by $0.01. The firm had revenue of $4.39 billion for 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 was up 9.1% on a year-over-year basis. During the same period last year, the firm earned $1.65 EPS. Sell-side analysts predict that Automatic Data Processing, Inc. will post 8.12 earnings per share for the current year.

Automatic Data Processing Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Saturday, April 1st. Shareholders of record on Friday, March 10th were issued a dividend of $1.25 per share. This represents a $5.00 annualized dividend and a dividend yield of 2.33%. The ex-dividend date was Thursday, March 9th. Automatic Data Processing’s dividend payout ratio (DPR) is presently 66.40%.

Automatic Data Processing Profile

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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.

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Institutional Ownership by Quarter for Automatic Data Processing (NASDAQ:ADP)

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