Asset Planning Inc Acquires New Shares in Automatic Data Processing, Inc. (NASDAQ:ADP)

Asset Planning Inc purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 375 shares of the business services provider’s stock, valued at approximately $110,000.

Several other large investors have also recently bought and sold shares of ADP. Exchange Traded Concepts LLC boosted its holdings in Automatic Data Processing by 22.9% in the 3rd quarter. Exchange Traded Concepts LLC now owns 4,618 shares of the business services provider’s stock valued at $1,278,000 after purchasing an additional 861 shares during the period. Creative Planning lifted its holdings in shares of Automatic Data Processing by 2.8% during the 3rd quarter. Creative Planning now owns 127,582 shares of the business services provider’s stock worth $35,306,000 after acquiring an additional 3,456 shares during the last quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its stake in Automatic Data Processing by 11.4% in the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 24,542 shares of the business services provider’s stock worth $6,792,000 after purchasing an additional 2,504 shares during the last quarter. Culbertson A N & Co. Inc. lifted its stake in Automatic Data Processing by 3.5% in the third quarter. Culbertson A N & Co. Inc. now owns 25,153 shares of the business services provider’s stock worth $6,961,000 after purchasing an additional 859 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new stake in Automatic Data Processing in the third quarter worth $827,000. 80.03% of the stock is owned by institutional investors.

Insider Transactions at Automatic Data Processing

In related news, VP David Foskett sold 1,067 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $286.15, for a total transaction of $305,322.05. Following the transaction, the vice president now owns 6,140 shares in the company, valued at $1,756,961. This represents a 14.81 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Brian L. Michaud sold 362 shares of the 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 transaction, the vice president now owns 13,706 shares in the company, valued at approximately $4,027,233.98. This trade represents a 2.57 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,478 shares of company stock worth $1,617,241. Corporate insiders own 0.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ADP. TD Cowen boosted their price target on shares of Automatic Data Processing from $276.00 to $285.00 and gave the stock a “hold” rating in a research note on Friday, November 1st. Mizuho boosted their price target 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. Jefferies Financial Group boosted their price target on shares of Automatic Data Processing from $290.00 to $305.00 and gave the stock a “hold” rating in a research note on Thursday, January 30th. StockNews.com cut shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research report on Wednesday, February 5th. Finally, Barclays boosted their price objective on shares of Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $293.55.

Automatic Data Processing Trading Up 1.2 %

NASDAQ:ADP opened at $310.22 on Friday. Automatic Data Processing, Inc. has a one year low of $231.27 and a one year high of $311.67. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.00 and a quick ratio of 1.00. The company’s 50-day simple moving average is $297.32 and its 200 day simple moving average is $287.85. The firm has a market capitalization of $126.40 billion, a P/E ratio of 32.35, a PEG ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last issued its earnings results on Wednesday, January 29th. The business services provider reported $2.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.30 by $0.05. Automatic Data Processing had a net margin of 19.76% and a return on equity of 80.86%. As a group, analysts forecast that Automatic Data Processing, Inc. will post 9.93 EPS for the current fiscal year.

Automatic Data Processing Dividend Announcement

The company also recently announced 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 1.99%. Automatic Data Processing’s dividend payout ratio is presently 64.23%.

Automatic Data Processing 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.