Strategic Financial Concepts LLC Invests $26.72 Million in Automatic Data Processing, Inc. (NASDAQ:ADP)

Strategic Financial Concepts LLC purchased a new stake in Automatic Data Processing, Inc. (NASDAQ:ADP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 91,288 shares of the business services provider’s stock, valued at approximately $26,723,000. Automatic Data Processing makes up approximately 0.8% of Strategic Financial Concepts LLC’s portfolio, making the stock its 12th largest position.

A number of other large investors have also recently added to or reduced their stakes in ADP. Itau Unibanco Holding S.A. acquired a new stake in shares of Automatic Data Processing in the 3rd quarter valued at about $26,000. Dunhill Financial LLC increased its holdings in Automatic Data Processing by 346.5% in the third quarter. Dunhill Financial LLC now owns 106 shares of the business services provider’s stock valued at $29,000 after buying an additional 149 shares during the last quarter. Capital Performance Advisors LLP bought a new stake in Automatic Data Processing in the third quarter valued at about $35,000. Sugar Maple Asset Management LLC acquired a new stake in Automatic Data Processing during the fourth quarter valued at approximately $37,000. Finally, Wingate Wealth Advisors Inc. bought a new position in Automatic Data Processing during the 4th quarter worth approximately $37,000. 80.03% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ADP has been the subject of a number of research analyst reports. Barclays boosted their price target on Automatic Data Processing from $325.00 to $350.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Jefferies Financial Group boosted their target price on shares of Automatic Data Processing from $290.00 to $305.00 and gave the company a “hold” rating in a research note on Thursday, January 30th. UBS Group raised their price target on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research report on Tuesday, October 22nd. Mizuho boosted their price objective on shares of Automatic Data Processing from $281.00 to $310.00 and gave the company an “outperform” rating in a research report on Monday, November 4th. Finally, StockNews.com lowered shares of Automatic Data Processing from a “buy” rating to a “hold” rating in a research note on Wednesday, February 5th. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $293.55.

Insiders Place Their Bets

In other news, CEO Maria Black sold 721 shares of the business’s stock in a transaction on Friday, January 3rd. The stock was sold at an average price of $291.59, for a total value of $210,236.39. Following the sale, the chief executive officer now owns 68,856 shares of the company’s stock, valued at approximately $20,077,721.04. The trade was a 1.04 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jonathan S. Lehberger sold 2,324 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $303.30, for a total value of $704,869.20. Following the completion of the sale, the vice president now owns 3,063 shares of the company’s stock, valued at approximately $929,007.90. This trade represents a 43.14 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,478 shares of company stock worth $1,617,241. 0.21% of the stock is owned by corporate insiders.

Automatic Data Processing Price Performance

Shares of NASDAQ:ADP opened at $308.15 on Friday. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.59. The firm’s 50 day moving average is $297.56 and its two-hundred day moving average is $288.37. The firm has a market capitalization of $125.56 billion, a P/E ratio of 32.13, a PEG ratio of 3.60 and a beta of 0.79. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67.

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

Automatic Data Processing Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 1st. Shareholders of record on Friday, March 14th will be paid a dividend of $1.54 per share. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 2.00%. Automatic Data Processing’s payout ratio is 64.23%.

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.