Automatic Data Processing, Inc. (NASDAQ:ADP) Shares Acquired by Lorne Steinberg Wealth Management Inc.

Lorne Steinberg Wealth Management Inc. lifted its position in shares of Automatic Data Processing, Inc. (NASDAQ:ADP) by 1.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,485 shares of the business services provider’s stock after purchasing an additional 109 shares during the quarter. Lorne Steinberg Wealth Management Inc.’s holdings in Automatic Data Processing were worth $2,484,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Moloney Securities Asset Management LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $209,000. Littlejohn Financial Services Inc. acquired a new stake in Automatic Data Processing in the 4th quarter valued at $708,000. Nomura Asset Management Co. Ltd. grew its stake in Automatic Data Processing by 5.8% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 280,961 shares of the business services provider’s stock valued at $77,750,000 after acquiring an additional 15,340 shares during the period. RIA Advisory Group LLC acquired a new stake in Automatic Data Processing in the 3rd quarter valued at $470,000. Finally, Dash Acquisitions Inc. grew its stake in Automatic Data Processing by 5.6% in the 3rd quarter. Dash Acquisitions Inc. now owns 52,329 shares of the business services provider’s stock valued at $15,069,000 after acquiring an additional 2,781 shares during the period. Institutional investors and hedge funds own 80.03% of the company’s stock.

Automatic Data Processing Stock Up 0.6 %

NASDAQ ADP opened at $309.89 on Wednesday. Automatic Data Processing, Inc. has a 52 week low of $231.27 and a 52 week high of $311.67. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.59. The business’s fifty day simple moving average is $297.93 and its 200-day simple moving average is $289.42. The firm has a market cap of $126.27 billion, a PE ratio of 32.31, a P/E/G ratio of 3.60 and a beta of 0.79.

Automatic Data Processing (NASDAQ:ADP) last posted its quarterly earnings results on Wednesday, January 29th. The business services provider reported $2.35 EPS for the quarter, topping 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%. As a group, equities 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 disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Investors of record on Friday, March 14th will be issued a $1.54 dividend. The ex-dividend date is Friday, March 14th. This represents a $6.16 annualized dividend and a yield of 1.99%. Automatic Data Processing’s dividend payout ratio (DPR) is currently 64.23%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ADP shares. Jefferies Financial Group lifted their price target 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 lifted their target price on shares of Automatic Data Processing from $270.00 to $295.00 and gave the stock a “neutral” rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $315.00 target price on shares of Automatic Data Processing 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 note on Wednesday, February 5th. Finally, Barclays lifted their target price on shares of Automatic Data Processing from $325.00 to $350.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Two analysts have rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $293.55.

Insider Activity at Automatic Data Processing

In related news, VP Brian L. Michaud sold 362 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $293.83, for a total value of $106,366.46. Following the sale, the vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Maria Black sold 721 shares of the business’s stock in a transaction dated Friday, January 3rd. The shares were sold at an average price of $291.59, for a total transaction of $210,236.39. Following the completion of the sale, the chief executive officer now owns 68,856 shares in the company, valued at approximately $20,077,721.04. This trade represents a 1.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,478 shares of company stock worth $1,617,241. Company insiders own 0.21% of the company’s stock.

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.