Perigon Wealth Management LLC Buys 7,734 Shares of Automatic Data Processing, Inc. (NASDAQ:ADP)

Perigon Wealth Management LLC grew its stake in Automatic Data Processing, Inc. (NASDAQ:ADP) by 33.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,926 shares of the business services provider’s stock after purchasing an additional 7,734 shares during the quarter. Perigon Wealth Management LLC’s holdings in Automatic Data Processing were worth $9,161,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Itau Unibanco Holding S.A. bought a new position in Automatic Data Processing during the third quarter worth about $26,000. Dunhill Financial LLC increased 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 acquiring an additional 149 shares during the period. Hexagon Capital Partners LLC grew its stake in Automatic Data Processing by 78.5% during the third 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 in the last quarter. Capital Performance Advisors LLP acquired a new stake in Automatic Data Processing during the third quarter worth about $35,000. Finally, Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter worth about $37,000. 80.03% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ADP shares. StockNews.com downgraded shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho increased their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the stock an “outperform” rating in a research note on Monday, November 4th. Royal Bank of Canada increased their price objective on shares of Automatic Data Processing from $267.00 to $315.00 and gave the stock a “sector perform” rating in a research note on Thursday, October 31st. Jefferies Financial Group increased their price objective on shares of Automatic Data Processing from $260.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, October 22nd. Finally, Barclays raised their price target on shares of 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 research analysts have rated the stock with a sell rating, eight have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Automatic Data Processing presently has an average rating of “Hold” and an average target price of $289.91.

Automatic Data Processing Stock Up 1.0 %

Automatic Data Processing stock opened at $300.15 on Tuesday. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.01 and a current ratio of 1.01. Automatic Data Processing, Inc. has a 52-week low of $231.27 and a 52-week high of $309.63. The firm has a 50 day moving average price of $297.13 and a two-hundred day moving average price of $282.77. The firm has a market cap 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 results on Wednesday, October 30th. The business services provider reported $2.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.21 by $0.12. Automatic Data Processing had a net margin of 19.72% and a return on equity of 82.36%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.77 billion. During the same quarter last year, the business earned $2.08 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. Equities analysts predict that Automatic Data Processing, Inc. will post 9.94 EPS for the current 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 paid 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%.

Insider Activity

In other Automatic Data Processing news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction 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 in the company, valued at approximately $4,027,233.98. The trade was a 2.57 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Sreenivasa Kutam sold 38,975 shares of the business’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 sale, the vice president now owns 32,604 shares of the company’s stock, valued at $9,781,200. This trade represents a 54.45 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 42,129 shares of company stock worth $12,604,872 in the last quarter. 0.21% of the stock is owned by corporate 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.